The payment rates for the second round of the market facilitation program (MFP) are still being determined. USDA is expected to make an announcement any day.
There was plenty of contention regarding payment rates for various commodities, including the 1¢ per bushel for corn. New reports indicate the second round of payments will see rates similar to what producers received in the first round.
However, according to Bill Northey, USDA undersecretary for farm production and conservation, those numbers are not yet set in stone. He did confirm with Farm Journal’s “AgDay” the second round of payments will be for the remaining 50% of production.
He says the expectation is for this to be the last payment needed.
“Every intention right now is the second tranche [will be] the last tranche,” Northey explains. “We’re not looking to stretch this out into another quarter.”
Northey says producers need to sign up by January, but those who experienced harvest delays will be given consideration. Producers will then have until May to provide production evidence to their local Farm Service Agency office