Agriculture Secretary Sonny Perdue is defending the payment rates found within the new Market Facilitation Program. The USDA leader said he is comfortable with the process. “We have used calculations that are known to economists that calculate tariff damages. They have been affirmed by the Council of Economic Advisors in the White House and by OMB.” Corn growers have questioned why the soybean payment rate is $1.65 a bushel while corn was only a penny per bushel. “That was the determined amount of tariff damage when you look at where tariffs were enforced and where we ship corn, that’s how the calculations turned out.”
Subscribe to RRFN
Get a weekly digest from RRFN to stay up-to-date on all the latest news in agriculture.