USDA is schedule to release the details of the administration’s $12 billion trade compensation package on Friday. Early reports indicate corn producers will receive a cent a bushel, with soybean payments anywhere from $1.10 to $1.90 per bushel on 2018 production. American Farm Bureau Federation President Zippy Duvall says they hope the assistance is fair and equitable for farmers.
He says its still uncertain just how the $12 billion will be split between the three parts of the package.
Duvall says he’s anxious to see how USDA came up with the payment calculation and he hopes it will be adequate.
Implementation of the trade aid package is supposed to start September 4. Meanwhile the next $16 billion of tariffs on Chinese imports into the U.S. is set to go into effect today.
