USDA is disputing news reports yesterday providing details of the Market Facilitation Program payment. The story indicated farmers would be paid $2.00 per bushel on soybeans, $.63 on wheat and $.04 on corn and the payment would be based on 2019 planted acres. USDA Under Secretary for Farm Programs and Conservation Bill Northey says they’ll figure the payment differently this round, but want to avoid influencing the market.
As a result, Northey says farmers should not make their planting plans based on a trade aid payment.
Senate Ag Committee Chairman Pat Roberts has warned that since USDA was offering the program at a different stage in the growing season it will be difficult to avoid impacting the marketplace.
House Ag Ranking Member Mike Conaway says ag appropriators are also looking at a different formula for figuring MFP payments to allow those that can’t plant to get a payment.
One suggestion lawmakers have offered USDA is to figure the payment on a five year average based on APH or Actual Production History. USDA’s statement indicated they would be releasing details of the program on Thursday,
