The USDA announced the second round of payments to farmers which have financially suffered from the trade actions taken by the White House. Stu Ellis has our update in this morning’s report From the Farm
Payments will be based on acres of typical program and authorized specialty crops, and range from $15 to $150 per acre. But those payments will vary by county, depending on how prices in that county have been impacted by the trade actions.
USDA also said it took into account the historically wet spring and delay planting and will be providing an additional $15 per acre payment if the acreage could not be planted routinely to corn or soybeans, but was planted with a cover crop by August first.
Farmers and eligible land owners can begin signing up at FSA offices on Monday with the deadline of December 6th. The first round of payments will be made in mid to late August, and future payments, if price conditions warrant, will be made in November and January. Those first payments are expected to be half of the current calculated amount.
A total of $16 billion in commodity Credit Corporation funding is being used, with $14 and a half billion for the payments, plus another one point four billion for commodity purchases, and $100 million for foreign market promotion.
More details are available at USDA’s website, farmers-dot-gov, or by calling your local FSA office.
That’s our report from the farm, I’m Stu Ellis with WCIA3 your local news leader.