No PLC Payments for Wheat, Barley or Oats

USDA recently released the final 2014/15 Market Year Averages numbers. CliftonAllenLarson Principle and Farm CPA Today blogger Paul Neiffer shares results and what it will mean for grain farmers.
Neiffer: “The USDA came out last week for the final Mid-year average price for wheat, barley and oats. As expected everyone of those prices was higher than the reference price — so there will be no PLC payments for either wheat, barley or oats for this year. The final price on wheat was very close to what the USDA had been projecting for the last six months. They had projected $6 and it ended up at $5.99. Barley was $5.30 and oats was at $3.20. Now at these prices, most of Pacific Northwest wheat growers that elected ARC-County are still going to get a maximum payment under ARC-CO. The price didn’t rally enough to change that.”
He continues with details for Colorado producers.
Neiffer: “In Colorado is interesting. Some counties are looking at a pretty good size ARC-CO payment and a lot of the counties are looking at no payment. It is just sort of a mixed bag. It really depends what county your farm is located in will determine whether you get a payment or not.”
Farm CPA Today is one of my favorite informative blogs, if you haven’t yet visited it, go to FarmCPAtoday.com.