As the Conference Committee Managers write, “[the] FSA [Farm Service Administration] has always had an annual signup into available programs, which is simply a decision to participate in a given year. Absent an annual signup, producers may well fail to notify FSA of ownership changes, complete AGI certifications, and other information required to be provided by the producer to FSA. The signup period is the one time each year where producers are certain to complete all of the necessary records and forms.”
For covered commodities, crop farmers can still participate in the nonrecourse marketing assistance loan program. Should prices fall that far, the loan deficiency payment remains in effect for the period of the 2014 Farm Bill.
Source: Daryll E. Ray and Harwood D. Schaffer, Agricultural Policy Analysis Center, University of Tennessee