USDA released details about how much row crop farmers will receive this year from the Trump administration’s $12 billion Farmer Bridge Assistance program. However, U.S. soybean producers say the payments won’t help farmers hurt by low crop prices and trade disputes.
While the aid is expected to help farmers get ready for next season, many producers and ag economists say those payments will only cover a fraction of farm losses and won’t rescue the sagging U.S. farm economy. The one-time payments will go to growers who planted one of 19 covered commodity crops.
“The highest per-acre payments will go to rice farmers, who could get $132.89 an acre,” Reuters said. “Cotton farmers could get $117.35 an acre, and oats farmers could receive $81.75 an acre.”
Meanwhile, farmers are eligible for $44.36 per corn acre, $30.88 per soybean acre, and $39.35 per wheat acre.
The overall payment limit is $155,000 per entity or individual.
