The Market Facilitation Program (MFP) will provide direct payments to producers of certain crops that have been affected by the loss of traditional exports due to retaliatory tariffs. Application for the MFP will begin September 4, 2018 through January 15, 2019. Producers can download the application or use the digital form found here: https://www.farmers.gov/manage/mfp#pdf-form. You can also apply in person at your local FSA office.
As explained in the USDA press release, “ The initial MFP payment will be calculated by multiplying 50 percent of the producer’s total 2018 actual production by the applicable MFP rate. If CCC announces a second MFP payment period, the remaining 50 percent of the producer’s total 2018 actual production will be subject to the second MFP payment rate.”
An eligible producer’s adjusted gross income (AGI) may not exceed $900,000. MFP payments per person or legal entity will be capped at $125,000 for eligible crop commodities, and also capped at $125,000 for dairy and hogs.
This interactive tools allows you to estimate the initial MFP payment you will receive for corn and soybean production. Note that the initial payment rate estimate is based on 50% of production. Use the dropdown to enter your total acres and estimated 2018 yields to see your estimated payment.
More information can be found here: https://www.usda.gov/media/press-releases/2018/08/27/usda-announces-details-assistance-farmers-impacted-unjustified
Michelle Mensing, Research Analyst, Decision Innovation Solutions (DIS). DIS is an Iowa-based economic research firm which provides regular farm economic research for Iowa Farm Bureau staff & members.