The U.S. Department of Agriculture has set Price Loss Coverage payment rates for 2015 crops of wheat at 61 cents per bushel and oats at 28 cents per bushel. However, USDA says there will be no payment for barley.
Pro Farmer’s First Thing Today reports that under provisions of the 2014 Farm Bill, no payments will be made until after October first. That’s becase the program provisions say that payments on 2015 PLC or Ag Risk Coverage programs cannot be made until after October 1st, 2016, or when the final 2015 market-year price has been announced. The marketing year average prices for 2015-crop wheat, barley and oats were announced June 29th.
From the National Association of Farm Broadcasting news service