Ag Analyst Kent Thiesse Talks CARES Act Aid For Farmers
Earlier this week the USDA released some of the details on the CARES Act Assistance for farmers. After the bill was passed the USDA has spent many weeks writing the rules and payment rates for the grains and livestock. Reading the news release it appeared the formula for figuring out the payment rates for corn and beans was very complicated. Imagine that, a very complicated program from the USDA!
Kent said it gets even more complicated because funding is coming from the CARES Act and also the USDA's CCC program. There is also some question about the USDA's definition of corn and soybeans in "inventory" on January 15, 2020. If it is in my bin and priced for delivery this spring are those bushels illegible? Kent said he has been told yes and another source said no. He has been reading the rules on the USDA website and has not found an answer yet!
We will know more soon as all Minnesota Farm Service Agency staff have a 3 hour training on Friday. The official signup begins on Tuesday right after Memorial Day. However, it would be better to give them a day or two to work the "kinks" out before you call for an appointment! If you would like to listen to Kent's analysis click the following link!