Making the Farm Bill Decisions
January 29, 2015 at 8:00 am - 9:00 am CST
Illinois Corn is sponsoring this webinar which will detail the three decisions associated with commodity programs in the 2014 Farm Bill. These decisions are 1) keep or update yields, 2) retain or reallocate base acres, and 3) choose a program to receive commodity program payments. Commodity program choices are Agricultural Risk Coverage at the county level (ARC-CO), Price Loss Coverage (PLC), and ARC at the individual farm level (ARC-IC). General advice will be given. Landowners generally will choose the yield alternative with the highest yield and choose the acre allocation that minimizes soybean acres and maximizes corn acres. Price expectations over the next five-years will impact commodity program choice. ARC-CO likely will have higher payments than PLC when corn prices are above $3.30. ARC-CO will maximize soybean payments when soybean prices exceed $8.00. ARC-CO will maximize wheat payments when five-year average prices exceed $5.50. Illinois maps will be presented that show expected payments for 2014.