Monday President Trump confirmed a second payment under the USDA’s Market Facilitation Program. Soybean farmers who apply under MFP by January 15 and who have been eligible to receive payments on half of their 2018 production will now receive a payment of $1.65 per bushel on their entire harvested crop. American Soybean Association Board Director Kevin Scott says they are thankful the President is delivering the aid he promised.
The Valley Springs, South Dakota farmers says they would still rather get their income from the marketplace. However, it will help offset the drop in prices experienced since China cut off U.S. soybean imports.
Scott says they’re also encouraged with the initial sales China has made in the last week and hope it is a sign the trade war could be turning the corner.
ASA continues to advocate for a negotiated solution to the trade war that would result in China rescinding the 25 percent tariff and fully opening its market to commercial purchases of U.S. soybeans. Scott says the sooner the market opens and tariffs are rescinded the sooner they can start to rebuild the exports lost this last year.
