Corn Farmers Appreciative of USDA's Revised Methodology for MFP Payment CalculationsFri, 23 Aug 2019 11:01:14 CDT
National Corn Growers Association (NCGA) President Lynn Chrisp today made the following statement on the U.S. Department of Agriculture’s (USDA) release of its methodology to determine commodity payment rates for the Market Facilitation Program (MFP). The payment rate for corn is $0.14 per bushel.
“NCGA welcomes USDA’s transparency in this process. Corn farmers were understandably disappointed by the one cent per bushel for corn in the first MFP program and we appreciate that it appears USDA considered our recommendations in developing MFP 2.0. Amid farmers’ concern over crop conditions, trade disputes and tariffs, and demand destruction in the ethanol market, this program will not make any farmer whole. NCGA continues to strongly advocate for the Administration to open markets and provide more certainty for corn farmers, including addressing the harm caused by RFS waivers and resolving trade disputes and tariffs.”
NCGA analysis showed an average price loss for corn of 20 cents per bushel from May 2018 to April 2019. As trade talks with China lagged on in March and April of 2019, losses widened closer to 40 cents per bushel. Following President Trump’s announcement that the Administration would be pursuing a second round of trade aid, NCGA advocated the Administration for improvements to MFP to make it more equitable and for a broader list of actions that would provide both short-term assistance and support market access for farmers.
Source - National Corn Growers Association
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