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central MN | The other payment that we made last year is the ARC-CO payment. However, due to Stearns County having a higher Actual Revenue compared to the Stearns County Benchmark Revenue there will be no ARC-CO payment on corn or soybeans for the 2015 year.
The calculation for Corn looks like this:
Benchmark Revenue = Yield (132 Bu/Ac based on Stearns data from 2010 – 2014) x Price ($5.29 based on National marketing data from 2010 – 2014) = $698.28 x 86% (program payment factor) = $600.52 (payment trigger for 2015 ACR-CO corn)
Actual Revenue = Yield (172 Bu/Ac based on 2015 Stearns NASS yield) x Price ($3.61 based on 2015 National marketing year average) = $620.92
Since the Actual Revenue of $620.92 is larger than the 86% Benchmark Revenue of $600.52 no payments will be received.
The few farms that are enrolled in PLC did receive a $0.09 payment (per base acre x PLC yield) on Corn. Oats had a $0.28 payment and Wheat had a $0.61 payment for PLC as well.
Hopefully this will clarify why the ARC-CO program does not trigger for Stearns County for the 2015 year.
We hope you have a safe and bountiful harvest!
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Received ARK payment today
