By Clint Schroeder, OSU Extension Educator
Landowners or producers with a Power of Attorney for their landowner have until September 30, 2020 to update their Price Loss Coverage (PLC) yield, also referred to as farm yield, information on file with the United States Department of Agriculture (USDA) Farm Service Agency (FSA). PLC yields exist for each FSA farm number and commodity. This one-time opportunity to update yield information for covered commodities was a provision in the 2018 Farm Bill. The updated yields will be used to calculate payments under the PLC program for the 2020 through 2023 crop years if market prices trigger payments. PLC yields have also been used before in disaster relief programs. There is no guarantee that farmers will have this opportunity again under future farm bills. If a farm chooses to not update their yield info the existing yields for the farm will be used. Not all updated yields will produce a higher yield. In the case where the new calculated yield for a farm and commodity is lower than the existing yield, FSA will take the higher of the two. Producers who are currently enrolled in the Agriculture Risk Coverage (ARC) should also consider updating their yields as the option to change program election exists within the current farm bill in 2021, 2022, and 2023.
Yields will be updated by submitting FSA form CCC-867 for each farm number and covered commodity. Each completed form will need to include one signature of a farm owner. If the reported yield in any year is less than 75 percent of the 2013-2017 average county yield, the yield will be substituted with 75 percent of the county average yield. For more information please contact your local FSA office.
The FSA form CCC-867 can be found at: https://www.fsa.usda.gov/Assets/USDA-FSA-Public/usdafiles/NewsRoom/news-releases/pdf/form-ccc-867.pdf