MFP Details to Be Released This Week, Likely Thursday

MFP Payments Update 072319
“Let's hope it's more details rather than less,” he said ( MGN Online )

Several months ago the Trump Administration announced the Market Facilitation Program for 2019 in response to the ongoing trade war with China. Just last week the Office of Management and budget approved the aid package. So when will farmers finally learn the details of the program? According to Pro Farmer’s Jim Wiesemeyer, additional details will be released this week. 

“It kind of makes logical sense, even though it's from Washington, because you've got the final of those extended acreage certification dates on the 22nd,” he said on the Signal to Noise podcast on Friday. “So that, that will give them a couple of days for any, you know, loose ends on there. But again, we were told to gear up for a Thursday announcement.”

While it’s unclear what kind of details will be included in the announcement, Wiesemeyer says the agency will probably give the payment formulas and some of the county information. 

“Let's hope it's more details rather than less,” he said

It’s unlikely, given these payments will be calculated on a county by county basis, that farmers will know exactly how much their payments will be, but at this point, they want all the information about the program that they can get. 

The payments will provide much-needed cash flow to many farmers. Wiesemeyer hopes Thursday’s announcement will include a timeline of when payments will begin. 

“They're also going to know a certain date of which they'll get some much-needed cash flow, they'll probably say, early to mid-August,” he said. “That's critical because of the dramatic decline and working capital throughout the country.”