Projected PLC Payment Rates for 2024 – March 2025
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The following contains the projected PLC payment rates for the 2024 crop year. Table 1 contains the estimated MYA prices for the 2024/25 crop year from the latest World Agricultural Supply and Demand Estimates (WASDE) report. The WASDE report is a monthly report containing the latest estimates/forecasts of MYA prices, production, imports, and exports for various crops. The MYA price is important in calculating farm program payments for the Price Loss Coverage (PLC) and Agricultural Risk Coverage-County (ARC-CO). The expected PLC payment rate is the higher of (reference price minus the estimated 2024/25 MYA price) or (zero). To find the estimated PLC payment per base acre, multiply the expected PLC Payment Rate by the individual farm’s PLC yield, then multiply by the 85% payment reduction factor. Seed cotton and peanuts are the only crops expected to have a PLC payment at this time. Many of these prices are well above the reference price. These are the projected prices for all crops and will likely change between now and when they are finalized in the fall.
| Table 1. PLC Payment Rates for 2024 Marketing Year | ||||||
|---|---|---|---|---|---|---|
| Commodity | Marketing Year | Dates for the Final 2024/25 MYA Price | Unit | 2024 Reference Price | 2024/25 MYA Price | 2024 PLC Payment Rate |
| Corn | Sep. 1-Aug. 31 | Sept. 2025 | bu | $4.01 | $4.35 | $0.00 |
| Soybeans | Sep. 1-Aug. 31 | Sept. 2025 | bu | $9.26 | $9.95 | $0.00 |
| Seed cotton | Aug. 1-Jul. 31 | Sept. 2025 | lb | $0.3670 | $0.3346 | $0.0324 |
| Rice (long grain) | Aug. 1-Jul. 31 | Oct. 2025 | lb | $0.140 | $0.142 | $0.00 |
| Rice (med/short grain) | Aug. 1-Jul. 31 | Oct. 2025 | lb | $0.140 | $0.152 | $0.00 |
| Peanuts | Aug. 1-Jul. 31 | Aug. 2025 | lb | $0.2675 | $0.2550 | $0.0125 |
| Wheat | Jun. 1-May 31 | Aug. 2025 | bu | $5.50 | $5.50 | $0.00 |
Any questions on this material can be directed to:
Brian Mills Will Maples Steve Martin
b.mills@msstate.edu will.maples@msstate.edu steve.martin@msstate.edu
(662) 325-8748 (662) 325-2883 (662) 325-3034
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