Northwest Iowa — Agricultural producers who have not yet enrolled in the Agriculture Risk Coverage (ARC) or Price Loss Coverage (PLC) programs for the 2023 crop year have until March 15, 2023, to elect and enroll in a contract.
The U.S. Department of Agriculture (USDA) says they offer these two safety net programs to provide vital income support to farmers experiencing substantial declines in crop prices or revenues.
Matt Russell, State Executive Director for FSA in Iowa says that the Agriculture Risk Coverage and Price Loss Coverage programs provide critical financial protections to many American farmers. As producers across the country deal with unexpected market volatility and natural disasters, these programs offer much-needed support and stability. He says he encourages producers to reach out to their county offices to learn about program eligibility and election options, so that they can begin the enrollment process as soon as possible.
Russell says producers can elect coverage and enroll in ARC-County or PLC, which are both commodity-by-commodity, or ARC-Individual, which covers the entire farm. Although election changes for 2023 are optional, producers must enroll through a signed contract each year. Additionally, if a producer has a multi-year contract on their farm and makes an election change for 2023, they will need to sign a new contract.
If producers do not submit an election by the March 15, 2023, deadline, the election remains the same as the 2022 election for commodities on the farm. Farm owners cannot enroll in either program unless they have a shared interest in the commodity.
In Iowa, only about 66% of the more than 161,000 expected contracts have been signed across the state.
Producers who do not complete enrollment by the deadline will not be enrolled in ARC or PLC for the 2023 year and will not receive a payment if triggered.
Russell says the situation for each farm and farmer is different and he encourages them to check with their insurance agent and perhaps also complete one of the online tools. He says one of the good ones is the Iowa State University Extension & Outreach Ag Decision Maker.
