Updating Yields in the 2018 Farm Bill
Excerpt of FarmDoc Daily article The Agriculture Improvement Act of 2018: Initial Review
A major change to farm programs is an option to update program yields for PLC. Owners of an FSA farm will have a one-time option to update their program yields, but the formula is somewhat complicated. It operates in two steps:
(1) 90% of the average yield for the 2013 to 2017 crop years, excluding any crop year in which the yield was zero; and
(2) reduced by a ratio that compares the 2013 to 2017 national average yields per planted acre to the 2008 to 2012 national average yields.
Iowa Farm Bureau note: For corn and soybeans in the state of Iowa, the updated yield will probably be 0.81 times the average farm yield 2013-2017.
The entire FarmDoc article is at: https://farmdocdaily.illinois.edu/2018/12/the-agriculture-improvement-act-of-2018-initial-review.html
The yield update is one of the topics at the 2018 Farm Bill Decision meetings that have been held throughout the state. For that schedule and more (including links to resources), go to: https://www.iowafarmbureau.com/Farmer-Resources/Decision-Farm-Bill
Meetings the week of July 21 will be held in: Neola, Mapleton, Welton, Hiawatha and Waterloo. Pre-registration is available at the link above or register at the door.