Agriculture Risk Coverage (ARC) & Price Loss Coverage (PLC)

Excerpt: The Agriculture Improvement Act of 2018 (2018 Farm Bill) reauthorized the ARC and PLC programs with modifications for the 2019 through 2023 crop years. The Further Continuing Appropriations and Other Extensions Act of 2024 extend these programs through 2024. The ARC Program is an income support program that provides payments when actual crop revenue declines below a specified guarantee level. The PLC Program provides income support payments when the effective price for a covered commodity falls below its effective reference price. There are 22 covered commodities: wheat, oats, barley, corn, grain sorghum, long grain rice, medium/short grain rice, temperate japonica rice, seed cotton, dry peas, lentils, large and small chickpeas, soybeans, peanuts, sunflower seed, canola, flaxseed, mustard seed, rapeseed, safflower, crambe, and sesame seed.