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Farm Bill Webinar: A closer look at the new ACRE ProgramThe American Society of Farm Managers and Rural Appraisers is offering a Farm Bill Webinar Sept. 8 at 9 a.m., MDT/10 a.m., CDT. Which of the new farm bill provisions represents some of the most far-reaching reforms and also the most complexity? Without a doubt, it's the new Average Crop Revenue Election program. The concept behind this new program is simple: pay farmers when revenues drop below normal revenue levels--rather than a program like direct payments that dish out dollars whether or not there has been a yield or price drop. Yet, farmers must give up 20 percent of their fixed direct payment and accept a 30 percent decline in loan rates for ACRE--a program that may or may not pay. Still, it's the formula for implementing the ACRE program, starting in 2009, that has some farmers excited and deficit hawks nervous--especially if commodity prices slump and farm payments start to go through the roof. Depending on where USDA establishes the price triggers, growers who enroll in ACRE could enjoy a substantial safety net. Participation is far from being a "no-brainer," as many had expected, says Kansas State Extension Ag Economist Dr. Art Barnaby. "This is an extremely complex program that requires two separate triggers to be met before payment will be issued." The ACRE program will depend on the market, but it is far more likely to generate payments on corn, wheat, soybeans and grain sorghum than the counter-cyclical or marketing loan provisions, he adds. You can join Barnaby and Steve Johnson, Iowa State University Extension Farm and Ag Business Management Specialist, as they discuss the "ins and outs" of the new ACRE program during the Farm Bill Webinar Sept. 8, at which time they will also share their insight on several other key farm program changes. Sponsored in part by Monsanto, The Farm Bill Webinar is open to the public and pre-registration is available on-line at: https://www1.gotomeeting.com/register/774799445 for $49. ASFMRA was founded in 1929 and is the premier association for property economic professionals who provide management, consultation and valuation services on agricultural and rural assets. Society members manage over 40 percent of the absentee farmland in the country; provide approximately 175,000 appraisals a year on 30 million acres of land and provide consulting services for over 5,500 clients who collectively represent over 7 million acres of rural real estate. 9/8/08 Date: 8/29/08 Advertisement
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