Producers and landowners can hear about options ahead of the March 15 deadline
Iowa producers have until March 15, 2022 to make their annual election for Price Loss Coverage or Agriculture Risk Coverage (at the individual or county levels) under the 2018 Farm Bill.
This annual decision impacts the 2022 crop year, consistent with the 2018 Farm Bill. Similar annual decisions, for the 2023 crop year, will coincide with the final year of the bill.
In order to help Iowans understand their options for 2022, Iowa State University Extension and Outreach and the USDA Farm Service Agency will hold four in-person meetings in Northwest Iowa the week of February 13. Individuals who would prefer to attend a virtual learning session, can visit the Ag Decision Maker Farm Bill information and resources webpage at https://www.extension.iastate.edu/agdm/info/farmbill.html.
“The key decision is between Price Loss Coverage and Agriculture Risk Coverage (county or individual),” said Gary Wright, farm management specialist with ISU Extension and Outreach. “A farmer’s choices will depend on the type of operation, where located, and their price outlook.”
 
Wright explained that PLC payments are triggered when the marketing year average price falls below the reference prices of $3.70 per bushel for corn and $8.40 per bushel for soybeans. Whereas ARC-CO payments are triggered when actual county revenue for the crop is less than the guarantee. Wright says current USDA price projections for 2022 are $4.80 per bushel for corn and $10.50 per bushel for soybeans.
 
“As with the past 2018 Farm Bill workshops, these sessions will involve the use of tools taken directly from Ag Decision Maker,” Wright said. “The producers’ overall 2022 crop decisions by announced deadlines will want to include (a) the federal crop election (ARC v PLC); and (b) a thorough review of the other crop insurance options. These two decisions should be evaluated jointly, following consultation with their trusted crop insurance agent (in regard to annual premiums), to ensure the desired risk control management steps are being fully considered.”
 
Ag producers and landowners are encouraged to be proactive and attend an in-person or virtual session if they have questions about their options. There is no fee to attend, but preregistration is required. Sessions will be approximately two hours in length, with time for questions.
In-person meetings are scheduled as follows:
•    Feb. 15, 1 p.m. to 3 p.m. – ISU Extension and Outreach Palo Alto County office, 2008 10th St., Emmetsburg; Preregister to 712-852-2865.
•     Feb. 16, 1 p.m. to 3 p.m. – ISU Extension and Outreach Cherokee County office, 209 Centennial Dr., Cherokee; Preregister to 712-225-6196.
•     Feb. 17, 9 a.m. to 11 a.m. – Northwest Iowa Community College, Building A, Room 117, 603 W. Park St., Sheldon; Preregister to 712-957-5045.
•     Feb. 18, 9 a.m. to 11 a.m. – Grace United Methodist Church, 311 2nd Ave., Spencer; Preregister to 712-262-2264.
Additional questions can be directed to Gary Wright at 712-223-1574 or gdwright@iastate.edu.