Final Market Facilitation Payment?
Many farmers myself included are wondering about the final installment of the Market Facilitation Payment round two. Remember last year farmers received 50 percent of the payment when we signed up, another 25 percent was made late last fall. The final 25 percent we were told would likely be paid this month or in February depending on if Secretary Perdue determined they were necessary.
Pro Farmer's policy analyst Jim Wiessmeyer said " Some Trump administration officials, including USDA Secretary Sonny Perdue, are holding off on the final installment of the Market Facilitation payments until they see what happens with the phase one trade deal with China."
"What I've heard is that a series of ag industry, lobbyists, economists, etc, have been invited by top USDA economist Robert Johansson to brief USDA Secretary Perdue," says Jim Wiesemeyer, Pro Farmer policy analyst. It would be the day before the ag outlook forum on February 19. If that's the case, then we may not have a decision on this third installment for a while."
So, the phase one trade deal with China was signed Wednesday and beans closed 13 cents lower. Plus beans are lower again today and corn was down 8 cents! You would have a difficult time trying to make the case the final Market Facilitation payments were not needed in farm country! With this being al election year it is hard to believe that the Trump administration will decide to not make the final payment!