October 1, 2014
www.gfb.org
Vol. 32 No. 39
FSA TAKING ACRE REALLOCATION, FARM BILL PEANUT PLAN UNVEILED Farm owners may now visit their local Farm Service Agency offices to update their yield history and/or reallocate their base acres for the 2015 crop year under the crop insurance programs established by the 2014 farm bill. Updating yields and reallocating base acres are the initial steps farmers must take to participate in Agricultural Risk Coverage (ARC) or Price Loss Coverage (PLC), the 2014 farm bill programs replacing direct payments as protection against significant drops in crop prices or revenues. Farm owners have until Feb. 27, 2015, to update historic yields or reallocate their base acres. Between Nov. 17 and March 31, 2015, producers will be able to make their election between PLC, ARC-County (which covers each commodity separately based on county production of that crop) or ARC-Individual (which applies to all covered commodities on a particular farm). ARC and PLC contracts are expected to be available in mid-April 2015. The USDA has unveiled online decision tools developed by the University of Missouri, Texas A&M and the University of Illinois. Farmers can enter their specific information and the decision tool performs calculations to help them determine which program best meets their needs. To access the FSA’s information about ARC and PLC as well as the decision tools, visit http://www.fsa.usda.gov/arc-plc. On Sept. 26 the USDA announced availability of the new peanut revenue policy, which was approved by the Federal Crop Insurance Corporation (FCIC) Board of Directors. The peanut revenue policy, which offers revenue-based insurance coverage not previously available for peanut producers, will be implemented by the USDA’s Risk Management Agency (RMA) and will be available for the 2015 crop year in all counties where yield-based insurance coverage is currently offered. The program will allow peanut producers protection against yield losses and reductions in revenue. Information about the peanut policy will be available on RMA websites later this fall. The peanut policy was developed by the Georgia Peanut Commission and the Western Peanut Growers under section 508(h) of the Federal Crop Insurance Act, which allows private entities to design and submit crop insurance products to the FCIC board.