Friday (February 27, 2015) was supposed to be the last day that a landowner could update crop base acres and payment yields. Secretary of Agriculture Tom Vilsack, however, has just announced that this deadline has been extended to March 31, 2015. This is a decision that landowners, not tenants, must make.
Producers (tenants in the case of a cash rent), on the other hand, must also elect by March 31, 2015, which programs they want for their farms during the next five years: Agricultural Risk Coverage-County (ARC-CO), Agricultural Risk Coverage-Individual (ARC_IC), or Price Loss Coverage (PLC). Vilsack has stated this deadline is not being extended, and has urged producers to elect sooner rather than later.
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