According to a new press release by the American Soybean Association (ASA), the United States Department of Agriculture (USDA) has released the details of the Market Facilitation Program (MFP) that was announced earlier this year.
This program will provide up to 14.5 billion dollars to farmers across the United States. The first round of payments is slated to start in August of this year. Payment to farmers is dependent on several factors, including county, calculated damages from the tariffs, and eligible crops in aggregate for 2019. While the support and funding being provided is a positive step for soybean farmers, the ASA remains persistent in their request for a quick resolution to the trade war.
Davie Stephens, president of the American Soybean Association (ASA) and soybean grower from Clinton, Kentucky, said, “The county rate for farmers in areas with a higher percentage of crops suffering from negative trade impacts will receive a higher offset for the damages we have seen because of the tariffs. We appreciate the Administration’s effort to determine how the payments will work and hope our soybean growers—no matter where their farms are and what is planted there—feel some relief from this assistance.”
Registration for farmers with eligible crops began on July 29th. The expectation is that farmers who sign up promptly will receive their first payment in mid-August with two additional payments to follow. All farmers have until the December 6th deadline to sign up.
Wisconsin Farmers can find out more about where to submit their application here.