World Perspectives
feed-grains soy-oilseeds wheat

No PLC Payments

USDA’s latest season-average price forecast was released yesterday, which included a forecast of Price Loss Coverage (PLC) program payments based on the formula model. The big takeaway is that there won’t be PLC payments in 2023/24 for corn, wheat, or soybeans, based on UDSA’s forecast prices of corn at $5.00/bushel, wheat at $7.63/bushel, and soybeans at $12.98/bushel. The PLC program provides payments to farmers who have base acres of covered commodities. The payments are made on a commodity-by-commodity basis when the annual average national market price falls below the “reference price” specified in the farm bill. The payment rate is the difference between the reference price and the market. The formula i...

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feed-grains soy-oilseeds wheat

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feed-grains soy-oilseeds wheat

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feed-grains soy-oilseeds wheat

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On behalf of a commodity producer organization, WPI evaluated the outputs from a project that featured a $5 million investment into technical research over multiple years. WPI’s team captured the results of this extensive effort and synthesized them for presentation to the organization’s governing board; among the findings uncovered and presented for the first time was the development of genomic traits proven, via rigorous testing, to provide crop yield advantages of 50 percent or more to U.S. farmers in times of drought. Capturing measurable results from long-term efforts can be challenging. Educating clients on the dynamics of success measurement when quantifiable results are not readily available requires deep client-consultant collaboration and an ability to consider both near- and long-term client aspirations with market/policy dynamics – attributes that WPI brings to every consulting engagement.

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