Growers will need to decide which Farm Bill safety-net program to participate in for 2019 and 2020. We have just updated the decision tool from attorney Tim Kelleher that should simplify the process.
There are placeholders for name, county, PLC yield, estimated prices and yields on the input page (Input Tab). Each grower will need to overwrite these placeholders with their own information and estimates of price and yield.
First, make your best estimate of 2019 and 2020 prices, including CCC loan. Remember, this is the average state price for medium/short grain rice. Next, make your best estimate of how low the price might go. This will tell you if there’s a possibility of a payment under the PLC program.
Next, look at your county yield history, then make your best estimate of expected yield and a possible low yield. There are a variety of yield and price combinations to find the best fit for your operation.