Have You Signed Up for the Market Facilitation Payment?
Because of the trade war with China farmers saw prices for corn, soybeans, and pork drop quite a lot. One year ago the Trump Administration announced the Market Facilitation Program. Last year the payments were based on production. This year the payments were on a per acre basis of corn, soybeans, and depending on how you certified oats, alfalfa and some other crops. In addition payments were earned for hogs on hand and milk produced.
For the second round 50 percent of the Market Facilitation payments were made as soon as farmers signed up. The next 25 percent would be paid in December and the final 25 percent in January "if the USDA determined that they were necessary." There has been no official announcement from the USDA about the next Market Facilitation payment other than I did read that the USDA and Secretary of Agriculture Sonny Perdue will make the decision in early November.
The trade war with China has not been resolved but it does sound more promising. Even if there was a deal soon you would think the USDA would still make the payments because the financial damage has occurred. Plus, with all the heat the Trump Administration took on the RFS Standard and small refinery exemption they likely do not want to upset farmers again!
I have heard that there are some farmers than have not yet signed up for the second round of Market Facilitation payments. If you do not go to your local Farm Service Agency (FSA) office and sign up you will not receive the payments. The deadline to sign up is early in December!