The Department of Agriculture (USDA) is expected to release further details of its trade relief package Friday. The aid package previously announced by Agriculture Secretary Sonny Perdue will provide $12 billion in assistance to farmers hurt by President Trump’s trade agenda.
Agri-Pulse reports that sources involved with the process say the payment rate for soybean farmers has been preliminarily proposed at $1.65 per bushel and one cent per bushel for corn farmers. However, further details regarding the plan have not been released officially, or leaked, leaving the industry in a phase of wonder.
USDA would not confirm or deny the proposed payment rates to Agri-Pulse. A USDA spokesperson told Agri-Pulse the department will not confirm the information because “it is based on preliminary information, is incomplete, and lacks context.”
The proposed payment rates are subject to change as the plan is under review by the White House Office of Management and Budget.
Source: National Association of Farm Broadcasting News Service.