frank
Guest
At this time of year, most farmers are already thinking about spring planting; however, they should also be considering enrolling in the Average Crop Revenue Election (ACRE) program.
The ACRE Program provides a safety net based on state revenue losses. When the ACRE program is selected, it substitutes the price-based safety net of counter-cyclical payments as part of the Direct and Counter-Cyclical Program.
The United Stated Department of Agriculture (USDA) provides farms with a revenue guarantee. The formula multiples the five-year state average by the most recent two-year national price average for each eligible commodity.
Eligible commodities
Wheat, barley and oats
Grain sorghum and corn
Upland cotton
Rice
Soybeans
Other oilseeds: canola, crambe, flaxseed, mustard seed, rapeseed, safflower, sesame seed and sunflower seed Peanuts
Dry peas, lentils and small and large chickpeas
For the 2012 crop year, the two-year price average will be based on the 2010 and 2011 crop years. When all criteria are considered, if the target and annual revenue is less than the revenue guarantee, the farm is eligible for support with the ACRE program, assuming that all other qualifications are met.
Because Ohio had two years of record-high grain prices, the revenue guarantee in the ACRE program is very good.
According to Chris Bruynis, assistant professor and Ohio State University Extension educator, ACRE could be the right safety net option for some farmers in Ohio this season because of the strong protection it will offer.
Read more at http://agnewsonline.blogspot.com/
The ACRE Program provides a safety net based on state revenue losses. When the ACRE program is selected, it substitutes the price-based safety net of counter-cyclical payments as part of the Direct and Counter-Cyclical Program.
The United Stated Department of Agriculture (USDA) provides farms with a revenue guarantee. The formula multiples the five-year state average by the most recent two-year national price average for each eligible commodity.
Eligible commodities
Wheat, barley and oats
Grain sorghum and corn
Upland cotton
Rice
Soybeans
Other oilseeds: canola, crambe, flaxseed, mustard seed, rapeseed, safflower, sesame seed and sunflower seed Peanuts
Dry peas, lentils and small and large chickpeas
For the 2012 crop year, the two-year price average will be based on the 2010 and 2011 crop years. When all criteria are considered, if the target and annual revenue is less than the revenue guarantee, the farm is eligible for support with the ACRE program, assuming that all other qualifications are met.
Because Ohio had two years of record-high grain prices, the revenue guarantee in the ACRE program is very good.
According to Chris Bruynis, assistant professor and Ohio State University Extension educator, ACRE could be the right safety net option for some farmers in Ohio this season because of the strong protection it will offer.
Read more at http://agnewsonline.blogspot.com/