Source: AgWeb.com
Key changes:
- Adjusted loan rates
- Annual choice between ARC and PLC
- Opportunity to update yield data
- Grassland to be removed from base acres
The four key ag committee leaders announced agreement in principle on a final farm bill Thursday. That deal includes some key changes to the Commodity Title of the bill, including adjustments sought by farm groups, according to Pro Farmer Washington Analyst Jim Wiesemeyer.
The first key change according to Wiesemeyer comes in a provision to increase loan rates while allowing for an annual election between the Agricultural Risk Coverage (ARC) and Price Loss Coverage (PLC) programs. Under the previous farm bill, growers made a single selection between the two programs for the life of the farm bill.