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Crookston Times - Crookston, MN
  • U of MN Extension: There’s help for those who have decisions to make because of farm bill changes

  • The new farm bill will bring change. We often find change difficult, and in fact, the only one that really likes change is a baby with a messy diaper. But if you need help to sort through the farm bill decision making process, we have help.
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  •     The new farm bill will bring change. We often find change difficult, and in fact, the only one that really likes change is a baby with a messy diaper. But if you need help to sort through the farm bill decision making process, we have help.   
        Kent Olson, a University of Minnesota Extension economist, has prepared a series of six fact sheets that explain the basic components for the crop program part of 2014 Farm Bill. These articles focus on changes in programs and rules affecting crop commodities and will help the agricultural community prepare for changes introduced by the recently passed federal legislation.   
        Gone are the Average Crop Revenue (ACRE) and Counter-Cyclical Program (CCP). In their place, farmers must decide between new programs: the Price Loss Coverage (PLC) or the county - or individual- based Agriculture Revenue Coverage (ARC).   
        The fact sheets are on Extension's web site at www.extension.umn.edu/agriculture/business/farm-bill/. If easier, simply Google “farm bill umn extension”, it should be the first link.   
        These helpful, easy to understand publications cover details on the new crops programs, including comparative information designed to help farmers choose their best option. The titles of these 6 articles are:   
        • Commodities – Overview for Crops. (This article discusses basic changes, updating payment yields, reallocating base acres, basic program options, and limits on payments and adjusted gross income.)
        • Updating Payment Yields and Reallocating Base Acres
        • Choosing Between PLC (Price Loss Coverage) and ARC (Agriculture Risk Coverage)
        • Price Loss Coverage (PLC) – more details and examples
        • ARC based on County Yields
        • ARC based on Individual Farm Yields   
        In rental, partnership or multiple owner situations – all parties need to agree and designate the program option in which they enroll. If this is not done, the farm will be assigned to the PLC option for the 2014-2018 crop years and will be ineligible for any payments for the 2014 farm year.   
        It looks like enrollment for the 2014 Farm Bill Crop programs will start later this summer or maybe later in the fall. This does not have a bearing on how farmers make planting decisions this spring. Farmers do need to stay tuned to FSA (Farm Service Agency) procedures for reporting planted acres, updating rental agreements reports, and other general reporting and information items.   
        Olson and colleagues in the Extension Agricultural Business Management program provide farmers and other industry professionals with University research-based information on farm management and marketing. More information is available at www.extension.umn.edu/agriculture/business/.   
    Page 2 of 2 -     For more information - or printed copies of these six publications - contact Jim Stordahl at 800-450-2465 or stordahl@umn.edu. If you need help changing messy diapers, contact your closest grandmother.
        
        Source: Kent Olson, University of Minnesota Extension Economist.

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