FARM Act May Make Large Payments to Farmers for the 2024 Crop

The Farm Assistance and Revenue Mitigation (FARM) Act has been introduced. If passed, it would provide large payments to many farmers

The Farm Assistance and Revenue Mitigation (FARM) Act has been introduced to Congress. This Act would make large payments to many farmers. We have calculated some estimated amounts per acre that might result if the Act is passed.

First, let’s review the details of the Act:

• The payment is for the 2024 crop.

• There is a formula for the eight major crops as follows:

  • Wheat

  • Corn

  • Soybeans

  • Rice

  • Cotton

  • Sorghum

  • Barley

  • Oats