USDA finally confirmed that they will issue the second half of Market Facilitation Program payments for commodities that were included in the first round. That means for beans, producers will receive the full $1.65/bu on their soybean production up to the payment cap of $125,000. Corn will be $0.01/bu on 100 percent and Wheat $0.14/bushel on 100 percent. The table at the bottom illustrates the other commodities.
Important if you are not yet enrolled…
For anyone delaying enrollment until after the first in order to defer income, it is possible the government could shut down on Friday, and we have no way of knowing when it will reopen. In the unlikely event the shutdown remains in-effect until after January 15, producers who have not signed up would no longer be eligible to receive payment. Instead, it might make sense to enroll now and perhaps wait to report your production (you can do that until May 1) OR if you will need the check right after the first, you might have to re-examine their tax planning depending on your situation. Time is getting short, but at least if you sign up before Friday you will know you are enrolled.
Below is the table from USDA:
For farmers who have already applied, completed harvest, and certified their 2018 production, a second payment will be issued on the remaining 50 percent of the producer’s total production, multiplied by the MFP rate for the specific commodity.