DTN is planning a webinar for producers who are trying to consider if they should enroll in the ACRE program for the remainder of the 2008 Farm Bill.
The session will cover how well ACRE, which stands for Average Crop Revenue Election, protected crop revenue for 2009 and what the outlook is for 2010 through 2012.
Presenters will include Farm Service Agency ACRE expert Brent Orr and Ohio State University economist Carl Zulauf, who also presented on a similar webinar last year. NAWG and the National Corn Growers Association are cosponsoring the event.
The webinar will be originally broadcast Thursday, May 6, at 7 a.m. Central time. Producers can learn more and sign up at http://about.dtnpf.com/ag/news_events/events/webinars/index.cfm#reb.
The new ACRE program, established in the 2008 Farm Bill, provides payments when both the state and the farm have incurred a revenue loss according to a complex formula taking into account state yield and a two-year national average price.
In exchange for participating in ACRE, producers agree to forgo the counter-cyclical program, take a 20 percent reduction in the direct payment and a 30 percent reduction in marketing assistance loan rates. Once enrolled in ACRE, a farm must be in the program through the 2012 crop year. The next sign-up deadline for ACRE is June 1.
The Food and Agricultural Policy Research Institute (FAPRI) estimated this week that wheat growers will receive $245 million of the $294 million of ACRE payments to be made on 12 major commodities during the 2009-2010 crop year. The high payments were the result of large drops in price and yield in wheat, compared to other crops.
FAPRI offers an ACRE calculator that has been updated as of April 9, available online at http://www.fapri.missouri.edu/farmers_corner/tools/acre.asp.
For the full release from FAPRI is at http://extension.missouri.edu/news/DisplayStory.aspx?N=735.