By Clint Schroeder
Join OSU Extension at the Allen County Fairgrounds, in Lima, Ohio, on Tuesday, February 8, 2022, starting at 9:00 a.m. for the Allen County Ag Outlook and Agronomy Day. The morning session will focus on commodity market outlook and ag policy. In the afternoon you will find answers to your agronomy questions, obtain pesticide applicator and fertilizer recertification credits, and CCA education hours as you prepare for the next growing season. The program will wrap up at 3:30 p.m.
Please RSVP by January 31, 2022 by contacting OSU Extension Allen County at 419-879-9108 or email Clint Schroeder at firstname.lastname@example.org. The event will be held in the Youth Activities Building on the Allen County Fairgrounds, 2750 Harding Highway, Lima, OH 45804.
Doors open at 8:30 a.m; event starts at 9 a.m. Pre-registration by 1/31/2022 is required and the $15 admission can be paid at the door. Registration fee covers coffee and rolls, lunch, information packet, and education credits.
By: Gary Schnitkey, Nick Paulson, and Krista Swanson – Department of Agricultural and Consumer Economics – University of Illinois and Carl Zulauf – Department of Agricultural, Environmental and Development Economics – Ohio State University
Farmers will again have until March 15 to make commodity title program selections. Given the current high prices, commodity title payments are not expected from any program option for the 2022 marketing year. If a change in conditions resulted in payments, those would be received in October 2023, after the close of the 2022 marketing year. Farmers wishing to purchase the Supplemental Coverage Option (SCO) crop insurance policy must select Price Loss Coverage (PLC) as the commodity title choice. Based on current price projections, Agriculture Risk Coverage at the county level (ARC-CO) will maximize the chance of payment for soybeans, although that chance will be small. The probability of payments is roughly the same for corn and soybeans.
Farmers have three program options when making their election decisions.
- Price Loss Coverage (PLC) is a crop-specific fixed price support program that triggers payments if the marketing year average (MYA) price falls below the commodity’s effective reference price. Payments are made on 85% of historical base acres.
- Agricultural Risk Coverage at the county level (ARC-CO) is a crop-specific county revenue program. ARC-CO triggers payments if actual revenue (MYA price times county yield) falls below 86% of the benchmark revenue (product of benchmark price and trend-adjusted historical yield for the county). Payments are made on 85% of historical base acres.
- Agricultural Risk Coverage at the individual level (ARC-IC) is a farm-level revenue support program. Like ARC-CO, payments are triggered if actual revenue falls below 86% of the benchmark. If an FSA farm unit is enrolled in ARC-IC, information for all commodities planted in 2022 are combined together in a weighted average to determine benchmark and actual revenues. If a farmer enrolls multiple FSA farms in the same state, all farm units are combined in determining the averages for actual and benchmark revenues. Payments are made on 65% of historical base acres.