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Coronavirus Farm Relief Payment Resources
May 22, 2020
Agronomy, Crop Management, Grain, Market Update, Soybean, Technology
More details were released on how the $19 billion Coronavirus farm relief payments will be allocated. Sign-up will begin on May 26th with payments coming as soon as mid-June.
USDA will provide $16 billion in direct payments to farmers and ranchers including:
- $9.6 billion for the livestock industry
- $5.1 billion for cattle
- $2.9 billion for dairy
- $1.6 billion for hogs
- $3.9 billion for row crop producers
- $2.1 billion for specialty crops producers
- $500 million for others crops
For non-specialty crops (grains/oilseeds), a single payment will be made based on 50% of the producer’s 2019 total production or the 2019 inventory as of Jan 15th, whichever is smaller. Please see payment rates below:
In addition to this, $14 billion was allocated to replenish the CCC. It is largely suspected that a large portion of these funds will be used for another MFP type payment. Total MFP payments were around $9.2b in 2019 and $5.2b in 2018. These funds will be available in July, with more details to come out in June.
Sources for more information:
