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S Illinois | $4.01 is 85% of the reference price for this year which is what PLC will be based off of this year. The reference price is based off of the Olympic 5 year average price. A big Farm Bill change/passage is unlikely so look for a continuation resolution.
$3.70 is the statutory minimum PLC price can be. The max the PLC price can go is 115% of minimum, or $4.26. If we had another year of high prices so that one year of upper $3 average prices fell off with, the PLC would likely bump up against the max.
Edit. Sorry but my grammar was terrible on the initial post. No change in ideas just easier readability.
Edited by w1891 3/5/2024 13:53
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So what is everyone choosing Arc or plc?
