Farm Credit Administration CEO Glen Smith says the Market Facilitation Program is a welcome boost to farm income just as much this year as it was last year. In the Northern Plains, Smith says MFP 2.0 will make up about 22 percent of net farm income. That varies of course, based on the farm. “We have a breakdown between states. It shows an average in Minnesota of $55 an acre, an average in North Dakota at $31 an acre and an average in South Dakota of $42 an acre,” says Smith. “Of those three, Minnesota would fit into the highest per acre average. My guess is that’s from a higher percentage of soybeans, influenced heavily by MFP payments.” Smith couldn’t say if there would be additional MFP payments available in 2020. “Payments are on a year-to-year basis. Next year will be an election year. If the tariffs continue, we may have a strong chance of similar MFP payment levels.”
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