USDA released more details on how the Market Facilitation Program payments are calculated. NDSU Extension Agricultural Finance Specialist Bryon Parman says this year’s program payments are significantly different from last year. “The soybeans are $2.05, compared to last year’s $1.65. The corn went up one cent going into this calculation to 14 cents per bushel,” says Parman. “Interestingly, some of these other crops, like barley and canola, if you grew them this year and last year, you still get a payment. However, if there was a bunch of it in the county, it dropped the county payment rate down.” Parman doesn’t think basis was a consideration in the payment calculations. “North Dakota’s biggest customer is China. That’s where most beans are shipped. We have to drive by lots of soybeans to get from North Dakota to the gulf coast. North Dakota farmers were hit hard with basis.” Look closer at the North Dakota MFP details.
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