The Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs were first authorized by the Agricultural Act of 2014 (2014 Farm Bill) and reauthorized with modifications by the Agriculture Improvement Act of 2018 (2018 Farm Bill). The ARC program provides payments when actual crop revenue falls below a specified guarantee level. The PLC program makes payments when the effective price for a covered commodity declines below its effective reference price.

The data used in this report corresponds to the 2014 to 2020 accounting program years as reported by USDA-FSA. Because payments for...