Purdue Ag Economist Offers Insights To Latest Farm Bill

A Purdue Extension agricultural economist has published two articles that include analysis of what the 2014 farm bill could mean for farmers and agriculture in the Midwest, according to Purdue Agriculture News.

The articles, “What Will the 2014 Farm Bill Mean for Midwest Agriculture?” and “Beginning to Evaluate Choices in the Farm Bill,” were authored by Roman Keeney and are available for download free of charge in the most recent edition of the Purdue Agricultural Economics Report.

The bill, formally named the Agriculture Act of 2014, was signed into law February 7, but many of the law’s specific rules are left to the USDA to interpret and implement. And while the new programs outlined in the bill will apply to the 2014 crop, Keeney said it’s likely signups won’t be available until late in 2014.

In his articles, Keeney explains the ways the farm bill has changed agricultural policy, outlines the new farm revenue protection programs and helps farmers start to evaluate their program decisions.

“The new farm bill is a major overhaul of commodity policy in the United States,” he said. “The articles provide an overview of those changes, introduce some of the decisions farmers will be making, and considers the continuing evolution of U.S. agricultural policy.”

One of the biggest changes farmers will see is the elimination of the longstanding direct and countercyclical payments system. Instead, lawmakers decided to offer farmers a more robust insurance and revenue protection system.

Part of what makes farmers’ revenue protection program decisions so important is that farmers are locked into their enrollment decisions for the five-year life of the farm bill, which runs through 2018.

The programs they’ll be offered:

* Price Loss Coverage (PLC), a price protection program that triggers payments when market year average prices fall below target levels, which are called reference prices.

* Agricultural Risk Coverage County (ARC-C), a revenue protection program that triggers payments when the county revenue per acre falls below a benchmark revenue guarantee per acre set for the county.

* Agricultural Risk Coverage Individual (ARC-I), a revenue protection program that triggers payments when there is a revenue-per-acre shortfall on the individual farm that falls below a benchmark revenue guarantee per acre for that farm.

The decision is more in-depth than just selecting a program per farm. Farmers will be able to enroll different commodities into different programs. There also are some additional options available with all three programs — all highlighted in Keeney’s articles.

The USDA is expected to have the remainder of the farm bill rules interpreted this summer, giving farmers time to learn more before they enter the enrollment period later this year.

Topics:

Leave a Reply

Legislation Stories

Corn Field
LegislationTFI Hopes Court Dismissal Is ‘Final Chapter’ Of Des Moines Water Works Lawsuit
March 20, 2017
The Fertilizer Institute (TFI) released the following statement from President, Chris Jahn on the March 17, 2017, federal court dismissal Read More
Sonny Perdue
LegislationARA: Sonny Perdue Confirmation Delay Simply A Paperwork Snaffu
March 9, 2017
It’s been seven weeks since the White House named former Gov. Sonny Perdue (R-Ga.) as the nominee for the next Read More
Roy Blunt
LegislationARA Recognizes Blunt, Heitkamp For Legislative Efforts Supporting Agriculture
February 17, 2017
Agricultural industry continues to face federal regulatory challenges. Thankfully, agriculture’s allies in the U.S. Senate stepped forward. The Agricultural Retailers Read More
LegislationThe Fertilizer Institute Commends Senate On Confirmation Of New EPA Administrator
February 17, 2017
The Fertilizer Institute (TFI) President Chris Jahn issued the following statement on the Senate confirmation of Oklahoma Attorney General Scott Read More
Trending Articles
Nutrients for Life Foundation Teacher
FertilizerNutrients For Life Foundation Celebrates 10 Years Teaching Fertilizer Education
March 23, 2017
Those in agriculture know fertilizer is a vital ingredient to grow strong, productive crops. In fact, fertilizer is responsible for Read More
AdjuvantsA New Weed-Control Era Begins: But First, One Last Obstacle
March 4, 2017
There is trepidation, there is reluctance, and there is excitement. Ag retailers feel it all about the new dicamba and Read More
LIFT Academy video screenshot
Crop InputsLIFT Agriculture Academy: A Q&A With West Central Distribution’s Dean Hendrickson
March 1, 2017
West Central Distribution recently launched its LIFT Agriculture Academy, a new, premiere training and professional development resource for West Central’s ag Read More
Farmer and aptop
Matt Hopkins10 Warning Signs Your Website Is Grossly Outdated
February 8, 2017
Your Website is often a visitor’s first impression of your ag retail business. A positive first impression can set the Read More
AgriSync
Matt Hopkins17 Agriculture Apps That Will Help You Farm Smarter In 2017
December 9, 2016
Ag professionals are working smarter, not harder, than ever before. Smart farming technologies have enabled them to reduce costs, maximize Read More
R4023 Sprayer, John Deere
CropLife 100Ag Retail Equipment Report: The Green Party Continues
December 7, 2016
In the annual race for sales in the ag retail equipment marketplace, the color schemes for participants are a little Read More
Latest News
Soybean Closeup
FungicidesNew CROSSOVER PRO Formulation Offers Insect and Disease…
March 29, 2017
INNVICTIS CROP CARE, LLC has launched CROSSOVER PRO as a first of its kind formulation combining propiconazole and lambda-cyhalothrin for Read More
Trade Summit
Crop Inputs3 Compelling Reasons to Attend the AgriBusiness Global …
March 29, 2017
The AgriBusiness Global Trade Summit is the world’s premier sourcing event for crop protection and plant health products. Its core Read More
ManagementStudy: Farming Becoming Riskier Under Climate Change
March 28, 2017
Scientists the world over are working to predict how climate change will affect our planet. It is an extremely complex Read More
Young Corn Plants
Crop NutritionProtecting Nitrogen Provides Economic, Environmental RO…
March 28, 2017
Every business looks to improve its return on investment and reduce its risk of loss. Farmers are no different, yet Read More
Water Drainage
Eric SfiligojDMWW Lawsuit Dismissal Good News for Ag
March 27, 2017
On March 17 while most of the nation was toasting St. Patrick’s Day, agriculture was likely lifting a glass (or Read More
Eric Jenks, Wilbur-Ellis
Crop InputsWilbur-Ellis Launches ADVANTIGRO Plant Growth Regulator…
March 27, 2017
Wilbur-Ellis Agribusiness, a recognized leader in the marketing and distribution of crop protection, seed and nutritional products, as well as Read More
Yara West Sacramento Ribbon Cutting
Crop InputsYara West Sacramento Is Newest Addition
March 27, 2017
Yara’s West Sacramento Terminal was officially welcomed March 21 as the newest Yara North America facility in the U.S. While continually Read More
UncategorizedPrecision Ag, Iowa Water, and GM Corn Updates
March 24, 2017
Editors Paul Schrimpf and Eric Sfiligoj look at the state of precision agriculture, the dismissal of the Des Moines Water Read More
Pam Marrone
Crop InputsMarrone Bio Innovations Enters Biostimulants Market Wit…
March 23, 2017
Marrone Bio Innovations, Inc. is expanding beyond biopesticides and crop protection and into the biostimulant market by commercially launching Haven Read More
Nutrients for Life Foundation Teacher
FertilizerNutrients For Life Foundation Celebrates 10 Years Teach…
March 23, 2017
Those in agriculture know fertilizer is a vital ingredient to grow strong, productive crops. In fact, fertilizer is responsible for Read More
ManagementThink You Know Water? Take WinField United’s R…
March 22, 2017
Water is among our most precious resources, and arguably the hardest working, with just one percent available for human use, Read More
Corn Field
LegislationTFI Hopes Court Dismissal Is ‘Final Chapter’…
March 20, 2017
The Fertilizer Institute (TFI) released the following statement from President, Chris Jahn on the March 17, 2017, federal court dismissal Read More
Wheat Growers
Industry NewsWheat Growers CEO Dale Locken To Retire
March 20, 2017
CEO Dale Locken has announced that he plans to retire from Wheat Growers. Locken has served almost 15 years as Read More
Bayer Monsanto
Eric SfiligojBayer-Monsanto: Life, LibertyLink, And The Pursuit Of R…
March 20, 2017
As the calendar officially turns to spring, life is in full renewal mode. Flowers are blooming, birds are singing, and Read More
Corn Field
Crop InputsUltra Yield Micronutrients Acquires Kronos Micronutrien…
March 16, 2017
Ultra Yield Micronutrients, Inc. ”Ultra”, an affiliate of Cameron Chemicals, Inc., is pleased to announce that it has acquired the Read More
ManagementSnowstorms, Asset Sales, and Soybeans Prices
March 16, 2017
Editors Paul Schrimpf and Eric Sfiligoj discuss the weather, precision ag, crop protection company mergers, and commodity prices in this Read More
Soybean Field
Seed/BiotechBayer Invests $8.1 million In Soybean Advancement In Th…
March 16, 2017
Growers in Illinois and across the Midwest now have the added benefit of a state-of-the-art soybean research facility, increasing accessibility Read More
CHS
CropLife 100CHS Acquires Western Co-op Transport Association
March 16, 2017
CHS Inc., North America’s leading farmer-owned cooperative and a global energy, grains and foods company, has purchased Western Co-op Transport Read More