Friday was the last day farmers could sign up for the Market Facilitation Program payments as Farm Service Agency offices are now closed due to the government shutdown. USDA said in a news release Friday, producers who have already certified their 2018 production with the FSA should continue to receive their payments. Those who haven’t will have to wait until the government shutdown is resolved and USDA may have to extend the signup deadline of January 15.
Brad Lubben, University of Nebraska Lincoln Farm Policy Specialist says according to their analysis the first payment was a big shot in the arm for Nebraska farmers and the economy and the second payment will be equally welcome.
He says the MFP payment will help make up for the lower soybean prices due to the trade war and the revenue loss that’s not covered by the current farm program.
However, Lubben says there won’t be trade aid in 2019 and without a substantial improvement in prices soybean farmers balance sheets could be in trouble in the new year.
Ag Secretary Sonny Perdue has already said there will not be a Market Facilitation Program in 2019. So, the hope is a trade deal can be reached with China that includes more U.S. soybean purchases.
