On November 17, the new 2014 Farm Bill safety net programs began. It's designed to help producers manage risk and it's one of the biggest reforms to U.S. farm programs in decades.
From November 17th to March 31st, producers will elect between the two payment programs, Agriculture Risk Coverage (ARC) or Price Loss Coverage (PLC). Then from mid-April through the summer or 2015, producers sign contracts for 2014 and 2015 crop years. The last step is in October of 2015, when payments will be issued for the 2014 crop year, if needed.
USDA Farm Service Agency Administrator Val Dolcini says the new ARC and PLC programs give a rational approach to helping farmers manage risk.
USDA also helped to create online tools for farmers to enter information and see projections. That can be accessed on www.fsa.usda.gov.