As expected, USDA announced the second round of Market Facilitation Payments (MFPs) yesterday. They are more generous than expected and can reach up to $150/acre in some counties. Per USDA, such assistance is “based on a single county payment rate multiplied by a farm’s total plantings of MFP-eligible crops in aggregate in 2019.” Following are the details:
The eligible crops are the basic commodity program crops, including sesame. Per-acre payments are not dependent on which of the eligible crops are planted in 2019. A producer’s total payment-eligible plantings cannot exceed total 2018 plantings. Producers who filed prevented planting claims and then planted an MFP-eligible cover crop qualify for a $15/acre pa...
What You Need to Know Today: Commodities were mostly lower across the board today after yesterday’s Federal Reserve meeting hinted at a potential interest rate hike later in 2026. The dollar index reached its highest level in over a year, and a strong dollar makes U.S. agricultural expor...
Tomorrow is the Juneteenth federal holiday, and the USDA, along with the rest of the federal government and the CME, will be closed, so the monthly Cattle on Feed report was released a day early. The total number of cattle on feed in feedlots with 1,000 head or more capacity on 1 June amounted...
