ACRE Interest Low for the 2009 Program
Despite the availability of additional time to analyze the Average Crop Revenue Election (ACRE) program for 2009, preliminary sign-up results show that less than 8% of farms are enrolled in the program, according to USDA's Farm Service Agency.
Farmers had until mid-August to decide whether to opt for ACRE or stick with the "traditional” Direct and Counter-Cyclical Program (DCP). Of the 22 crops eligible for enrollment, corn had the highest number of base acres enrolled, followed by wheat and soybeans.
Farms growing corn and soybeans are heavily represented in the top five states of ACRE participation:
- Illinois (25,960 farms, 16.71%)
- Iowa (17,249 farms, 11.81%)
- Nebraska (16,637 farms, 19.61%)
- Oklahoma (12,158 farms, 24.78%)
- Indiana (9,641 farms, 9.49%)
Under ACRE, farmers take a 20% reduction in direct payments, a 30% reduction in loan rates and forgo eligibility for the counter-cyclical program. Plus, the farm is enrolled in ACRE through the 2012 crop year. Sign-up has started for the 2010 DCP/ACRE; it ends June 1.
Win Recognition and a Free Trip
Don't miss the opportunity to take part in the Ag Connect Expo Advocating for Agriculture Awards program. One grand prize winner in each of three categories—Ag Woman of the Year, Ag Innovation and Community Leadership—receives a free trip to Orlando for Ag Connect Expo, Jan. 13–15, 2010.
To find out more, enter yourself or nominate someone deserving, visit www.agconnect.com. Entries and nominations are due by Dec. 4, 2009.
Finalists will be posted on the Ag Connect Web site for online voting Dec. 4–13. Winners will be announced Dec. 18.
Industry Experts at Your Service
Dec. 3–4, 2009
On the heels—or in the midst—of a long harvest, trade the combine seat for a ringside seat at the Marketing Rally. You'll learn how to handle market volatility and capture upside opportunities. Register at www.marketingrally.com.