Think Break #15 What is your PLC payment? You have a farm with

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Think Break #15 What is your PLC payment? You have a farm with a) 30 corn base acres with a 130 bu/ac payment rate b) 20 soybean base acres with a 30 bu/ac payment rate You signed up for PLC and the national marketing year average price is $3.55 for corn and $8.50 for soybeans What is your PLC payment? Reference Prices: Corn=$3.70, Soybeans=$8.40 PLC PaymentRate = ReferencePrice – MYAPrice PLC Payment = 85% x BaseAcres x PaymentYield x PLC PaymentRate

Think Break #15 Answer Corn PLC Payment Rate = 3.70 – 3.55 = 0.15 Soybean PLC Payment Rat = 8.40 – 8.50 = -0.10 < 0, so no PLC payment for Soybeans PLC Payment = 85% x BaseAcres x PaymentYield x PLC PaymentRate = 85% x 30 x 130 x 0.15 = $497.25