USDA’s Farm Service Agency (FSA) reminds farm owners of the September 30 deadline to update Price Loss Coverage (PLC) program yields for covered commodities on the farm. This is a one-time opportunity for producers to update yields, which are used to calculate 2020 through 2023 payments.
“Don’t miss this one-time opportunity to update yields for the Price Loss Coverage program,” said FSA Administrator Richard Fordyce. “Please contact your FSA county office to schedule an appointment.”
Updating yields requires the signature of one owner on a farm and not all owners. If a yield update is not made, no action is required to maintain the existing base crop yield on file with FSA.
For program payments, updated yields will apply beginning with the 2020 crop year which, should payments trigger, will be paid in October 2021. Additionally, recently published updates to the payment limitation and eligibility provisions for Farm Bill programs do not impact payments from ARC and PLC for the 2019 crop year or the 2020 crop year.
The updated yield will be equal to 90% of the average yield per planted acre in crop years 2013-2017. That excludes any year where the applicable covered commodity was not planted and is subject to the ratio obtained by dividing the 2008-2012 average national yield by the 2013-2017 average national yield for the covered commodity.
FSA published a final rule in August 2020 that made updates to payments limitations and payment eligibility for programs, many of which were directed by the 2018 Farm Bill. For ARC and PLC, these updates will not take effect until 2021 crop payments that will be made in October 2022.