From Maryland Grain Producers Newsletter
U.S. Secretary of Agriculture Sonny Perdue today announced details of actions the U.S. Department of Agriculture (USDA) will take to assist farmers in response to trade damage from unjustified retaliation by foreign nations. As announced last month, USDA will authorize up to $12 billion in programs, consistent with World Trade Organization obligations. Initial payment rates will be: Corn – $0.01/bu, Soybeans – $1.65/bu, Sorghum – $0.86/bu, Wheat – $0.14/bu. These initial payment rates will be based on 50% of production. A second payment rate may be announced later for the remaining 50%. Payments will be capped per person or legal entity at a combined $125,000 for corn, sorghum, soybeans and wheat.
Interested producers can apply after harvest is 100 percent complete and they can report their total 2018 production. Beginning September 4th of this year, MFP applications will be available online or by contacting your local FSA office. Producers will be able to submit their MFP applications in person, by email, fax, or by mail.
Eligible applicants must have an ownership interest in the commodity, be actively engaged in farming, and have an average adjusted gross income (AGI) for tax years 2014, 2015, and 2016 of less than $900,000. Applicants must also comply with the provisions of the “Highly Erodible Land and Wetland Conservation” regulations. On September 4, 2018, the first MFP payment periods will begin. The second payment period, if warranted, will be determined by the USDA.
