The Trump Administration has announced another round of payments for farmers, to compensate for lower commodity prices amid trade tensions with China.
Iowa Agriculture Secretary Mike Naig says it’s needed, because corn and soybean prices are below the cost of producing a crop.
OC……situation with trade.”:10
The first payments are scheduled to be made in late July or early August, but the final calculations aren’t set.
The payments to individual farmers will be based on the impact trade has had on corn and soybean prices in their county.
The assistance will not be determined by what farmers plant this year, but a farmer must have put some seeds in the ground this year to qualify for the payments.
Naig says farmers understand what’s at stake as the Trump Administration presses China to make trade concessions.
OC………make a deal.” :23
The Trump Administration plans to make nearly 15 billion dollars in payments to farmers in three waves, this summer, again in November and then in January.
OC……..a fair marketplace.” :23
While U.S. soybean sales to China have been healthy over the last several years, Naig says China has been blocking imports of U.S. beef, poultry, ethanol and corn.
Naig made his comments during taping of this week’s “Iowa Press” program on Iowa Public Television.