FBA Payment Rates Are Announced
USDA just released details on the Farmer Bridge Assistance Program (FBA)
USDA just released the final payment rates for the Title I crops today.
Here is a chart showing the payment rates:
Our final estimate on the corn payment rate was $46, and the final number was $44.36. Our estimate for soybeans was $32, and the final number was $30.88.
On the other crops we were too low on cotton and rice, a little low on wheat and sorghum and too high on peanuts.
All-in-all, the final numbers were about as expected. They ended up bumping up soybeans likely to reflect some additional assistance due to the China standoff.
However, there are several concerns for larger producers that have arisen in this program as follows:
