(ST. PAUL, Minn.), November 18, 2015 – USDA Minnesota Farm Service Agency (FSA) Acting Executive Director, Jane Ray announced that approximately 92,000 Minnesota farms who enrolled in the new safety-net programs established by the 2014 Farm Bill will soon begin receiving financial assistance for the 2014 crop year. The programs, known as Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC), are designed to protect against unexpected drops in crop prices or revenues due to market downturns.

USDA Issues Safety-Net Payments to Minnesota Farmers Facing Market Downturn

Contact:
Michelle Page (651)602-7732

(ST. PAUL, Minn.), November 18, 2015 – USDA Minnesota Farm Service Agency (FSA) Acting Executive Director, Jane Ray announced that approximately 92,000 Minnesota farms who enrolled in the new safety-net programs established by the 2014 Farm Bill will soon begin receiving financial assistance for the 2014 crop year. The programs, known as Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC), are designed to protect against unexpected drops in crop prices or revenues due to market downturns.

"These new safety-net programs provide help when price and revenues fall below normal, unlike the previous direct payments program that provided funds even in good years," said SED Ray. "For example, 87 counties in Minnesota harvest corn and soybeans. For corn and soybean producers, the average price for the market year was higher than the historical benchmark established by the programs, so financial assistance did not occur."

Similarly, the county-based option of ARC protects against lower revenue from a combination of price and yield.

"Payments by county can vary because average county yields will differ," said Ray.

Statewide, 92,100 farms participated in ARC-County and 1880 farms participated in PLC. More details on the price and yield information used to calculate the financing assistance from the safety-net programs is available on the FSA website at www.fsa.usda.gov/arc-plc and www.fsa.usda.gov/mn.

For Your Information:

2014- Crop Corn Revenue with ARC-CO Safety Net

2014- Crop Corn Revenue without ARC-CO Safety Net

2014- Crop Soybean Revenue with ARC-CO Safety Net

2014- Crop Soybean Revenue without ARC-CO Safety Net

2014-Crop Wheat Revenue with ARC-CO Safety Net

2014-Crop Wheat Revenue without ARC-CO Safety Net

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