Posted 7/10/2019 21:47 (#7607847 - in reply to #7607580) Subject: RE: How could my crop insurance agent ...................
sand85 - 7/10/2019 19:44
Well, if you elect PLC there is an option to buy up private SCO insurance, which you get from your crop insurance agent. This has existed since the last farm bill, so was that since 2014 at least? It’s not very popular in the corn belt, I don’t believe.
As far as this ‘indication’ thing, I’m here asking the questions since I don’t have the answer. I think it’s a one time thing due to the late ARC/PLC election signup. I don’t know if it locks you into your SCO premium, or just allows the private companies to get covered in the futures/option market, or what.
I think that since you cant sign up you don't have to identify ARC or PLC on your crop insurance acreage report. Not sure how SCO will work if you end up choosing ARC but I think the penalty has been dropped for this year.
New question is with the changed market environment has the PLC vs ARC decision changed?