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USDA SERIOUSLY CONSIDERING THIRD TRADE AID PAYMENTS
Dec. 10, 2019
Agri-Pulse reports:
USDA won't decide until January whether to issue the third tranche of payments under the 2019 Market Facilitation Program. But even if the Trump administration were to reach a trade deal with China in the coming days, it appears that wouldn't necessarily stop USDA from releasing the money.
"We recognize that even if we have a trade agreement and things really get moving, we know that the farm income situation has been affected and can't be turned around overnight. So there still is a great need for those payments, particularly this year," Deputy Agriculture Secretary Steve Censky told members of the Illinois Farm Bureau meeting in Chicago on Monday.
ILFB President Richard Guebert said his delegates aren't proposing additional aid packages, but "we have some bankers who are looking for it to come sooner rather than later" because of borrowers facing financial challenges.
By the way: Enrollment for the 2019 MFP ended last Friday. As of Dec. 3, $10.3 billion worth of 2019 MFP payments have been made. Farmers who produce grain, soybeans, cotton and other non-specialty crops have received $9.8 billion. Specialty crop growers have received $116 million, while the livestock sector has received $368 million.
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