UPDATE: Where are the 2nd Round of Market Facilitation Payments?

December 14, 2018 03:40 PM
 
 

It's on the mind of many producers right now: when will that second round of market facilitation payments be going out? Here's the latest on what we know:

United States Agriculture Secretary Sonny Perdue was scheduled to meet with the White House Office of Management and Budget on Friday to discuss the matter.  The payments are delayed right now.  We're told it's due to optimism on China buying U.S. soybeans again and out of concerns about the cost of the program.

Perdue told reporters he still expects the White House to approve the second round, despite China starting to buy U.S. soybeans again. As to when that second round of payments will be made, Perdue says "very soon".  He believes the aid still needs to be sent since Mexico and Canada still have tariffs on goods and China has not removed theirs, either.  The U.S. Department of Agriculture had authorized up to $12 billion in aid earlier this year for ranchers and farmers hit hard by the trade war with China.

How big of a help are the payments?  Tyne Morgan asked agriculture banker Keith Knudse of Security Bank in Nebraska. He said, "It could in some cases be the difference between profitability and making payments and not."

Related article:

2nd MFP Payment Now in Question

Back to news


Comments

 
Spell Check

Duane
Shoreham , VT
12/15/2018 05:50 PM
 

  I do not see what China buying soybeans does to help the dairy farmers. Dairy farmers should still get their payments...it’s not like that .12 cents per hundredweight was that big of a deal anyhow.

 
 
Donna Shoop
Moravia, IA
12/17/2018 10:28 AM
 

  Please get the 2nd Market facilitation payments Made. It is much needed here in the mid west. You haven't seen anything yet if the pmts and markets don't adjust to our cost of production. Several farmers are already selling off machinery to help make the banks a happy cashflow. Next they are going to force them into bankruptcy. When you start selling your assets or your factiry you are most likley finished. Then IRS steps in; Capitol Gain.

 
 
Jerry Bachmier
Glidden, AZ
12/17/2018 08:17 PM
 

  Am just curious how does that payment get paid out so much a acre if so how much a acre was the 1st payment and how much a acre will the 2nd payment be. Thanks Jerry

 
 

Corn College TV Education Series

2014_Team_Shot_with_Logo

Get nearly 8 hours of educational video with Farm Journal's top agronomists. Produced in the field and neatly organized by topic, from spring prep to post-harvest. Order now!

Markets

Market Data provided by QTInfo.com
Brought to you by Beyer
Close