Early this afternoon I received an email from my Market Advisor Kevin Schweer with Central Farm Service on the USDA setting the Coronavirus Assistance Payments. The payment rate for corn will be 32 cents a bushel and 45 cents a bushel for soybeans. The payment limit will be $250,000 per person or entity. There is another major detail determining how much assistance a corn and soybean grower will receive. I suspect in this first round there was not enough money to cover all the losses.

I remember reading that the coronavirus assistance would cover 85 percent of the price drop in ag commodities. Well, the Coronavirus Assistance will be the above mentioned rates for corn and beans on "50 percent of farmers 2019 production or inventory as of January 15, 2020 which ever is less." In addition I am not completely sure what the definition of corn and soybeans in inventory means. If the corn and beans is in my bin on January 15, 2020 and priced for say March delivery is that considered inventory?

I have not seen any details on livestock or milk payments yet. I have an interview set up with Ag Analysist Kent Thiesse for Wednesday morning so stay tuned!

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