In short, the story is about a group of five schoolboys to achieve fame in an event called the Harvest Festival, which involves different groups of (or individual) entertainers showing off their skills in so-called Harvest Shows. The catch is that the five schoolboys, and everyone else in the school, are actually anthropomorphised rice. Apart from rice, bread is also represented in the Harvest Festival; this gives rise to the show's largest conflict, which is, of course, rice versus bread.
Apart from the overarching story with the Harvest Festival, which isn't *too* absurd so far, it also shows off various problems that rice plants have to deal with in a more episodic nature: there will be some bizarre event that happens to the boys, and later it turns out that it was actually a metaphor for some disease rice plants get, or for resistance to a particular environmental parameter, or something else entirely. Here the show uses the different characters to show the differences between various strains of rice (each character belongs to a different strain and thus has different properties).
The characters are mostly male with bishounen aesthetics, and it's pretty clear that the show's target demographic isn't heterosexual men (occasionally a group of three fujo-looking women shows up and they react to something), but this fact isn't really that important in the show, and it certainly isn't sexual in nature or has any ecchi parts.
In other aspects, the show can actually be considered good: the art is surprisingly well done, and the sound, while not exceptional, isn't bad either. At the end of each episode the ending is shown, consisting of the (fairly generic) ending song set to a video of someone preparing a rice dish, different each episode, in "gif recipe" style: the working area is filmed from above and you only ever see the cook's hands while the dish's preparation is being shown significantly sped up. This way, the viewer learns about new unique rice dishes: in my opinion, this is a very nice idea and fits the theme of the show well.
I wouldn't really consider this show "slice of life" (fun fact: at time of writing, Love Kome is the second worst rated slice of life series out of 967 to have received an actual score). You won't be able to relate to this unless you are rice.
Overall, the show seems like a commercial for rice aimed at fujos. Don't let this turn you off, however: watch the show, then laugh about how bizarre it is (and if you understand enough Japanese, laugh about all the puns). You don't really have much to lose, given how each episode is only four minutes long, and in the worst case you learn some recipes for rice dishes you probably haven't known.
