Farmers can now change election and enroll in the Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs for the 2023 crop year.
These programs are part of a broader safety net provided by the U.S. Department of Agriculture, which includes crop insurance and marketing assistance loans.
ARC provides income support payments on historical base acres when actual crop revenue declines below a specified guaranteed level.
PLC provides income support payments on historical base acres when the effective price for a covered commodity falls below its reference price. Producers have until March 15, 2023 to enroll in one of these two programs.