est Bailout plan:
U.S. farmers would get a minimum of $15 per acre in the latest round of assistance to growers slammed by ongoing trade disputes with China and other countries.
U.S. Agriculture Secretary Sonny Perdue said Tuesday direct payments to farmers will be provided in three rounds, with half of the total assistance provided in the first checks.
Farmers can expect "about 50% or a minimum there of $15 an acre initially" under the new $16 billion trade mitigation plan, Perdue said.
USDA will assess market conditions before releasing the remaining assistance, he said.
Based on that minimum, Iowa farmers would receive about $457.5 million to offset trade damage to corn, soybeans and other crops suffering from low prices, given trade disputes with China, Canada, Mexico and the European Union.
Iowa has about 30.5 million acres in crops, primarily corn and soybeans.
Last year, Iowa farmers received nearly $934 million for crop losses under the first $12 billion trade mitigation payout — and nearly $54 million to offset pork and dairy losses.
Iowa leads the nation in corn, pork and egg production, and ranks second for growing soybeans.
Perdue, who provided no new information on this year's livestock payments, said more details would be provided before Saturday.
Last year, the Trump administration provided a $12 billion package to farmers to soften the trade blow losses.
China's soybean purchases dropped 74% to $3.1 billion in 2018, and pork sales fell 21% to $852 million. Mexico's purchases of U.S. pork fell 13% to $1.3 billion.
Altogether, Iowa farms received $987.7 million in the first round of assistance, data analyzed by The Associated Press show.
Farmers received aid last year based on the amount of soybeans, corn, wheat, sorghum, cotton, cherries and almonds harvested, along with the number of pigs and amount of milk produced.
This year, the U.S. Agriculture Department is providing direct payments to nearly three dozen kinds of crop, fruit, legume and nut growers, and livestock producers.
Vice President Mike Pence was in Iowa Tuesday to urge Congress to pass the Trump administration's U.S.-Mexico-Canada Agreement trade deal, and U.S. and Chinese officials are expected to renew trade talks.
Perdue acknowledged again Tuesday that times continue to be tough for U.S. farmers. Farm income this year is projected to be nearly 50% below a 2013 high.
"It's not a very rosy picture now," Perdue said, adding that difficult growing conditions this year could hurt yields, further depressing the financial outlook.
The White House's Office of Management and Budget is assessing USDA's proposed disaster payment plan, Perdue said. Farmers could potentially sign up for assistance by the end of August.
That's important in Iowa, where farmers across the state struggled with flooding, especially along the Missouri River.
https://www.press-citizen.com/story...dition-sonny-perdue-15-acre-china/1812838001/
U.S. farmers would get a minimum of $15 per acre in the latest round of assistance to growers slammed by ongoing trade disputes with China and other countries.
U.S. Agriculture Secretary Sonny Perdue said Tuesday direct payments to farmers will be provided in three rounds, with half of the total assistance provided in the first checks.
Farmers can expect "about 50% or a minimum there of $15 an acre initially" under the new $16 billion trade mitigation plan, Perdue said.
USDA will assess market conditions before releasing the remaining assistance, he said.
Based on that minimum, Iowa farmers would receive about $457.5 million to offset trade damage to corn, soybeans and other crops suffering from low prices, given trade disputes with China, Canada, Mexico and the European Union.
Iowa has about 30.5 million acres in crops, primarily corn and soybeans.
Last year, Iowa farmers received nearly $934 million for crop losses under the first $12 billion trade mitigation payout — and nearly $54 million to offset pork and dairy losses.
Iowa leads the nation in corn, pork and egg production, and ranks second for growing soybeans.
Perdue, who provided no new information on this year's livestock payments, said more details would be provided before Saturday.
Last year, the Trump administration provided a $12 billion package to farmers to soften the trade blow losses.
China's soybean purchases dropped 74% to $3.1 billion in 2018, and pork sales fell 21% to $852 million. Mexico's purchases of U.S. pork fell 13% to $1.3 billion.
Altogether, Iowa farms received $987.7 million in the first round of assistance, data analyzed by The Associated Press show.
Farmers received aid last year based on the amount of soybeans, corn, wheat, sorghum, cotton, cherries and almonds harvested, along with the number of pigs and amount of milk produced.
This year, the U.S. Agriculture Department is providing direct payments to nearly three dozen kinds of crop, fruit, legume and nut growers, and livestock producers.
Vice President Mike Pence was in Iowa Tuesday to urge Congress to pass the Trump administration's U.S.-Mexico-Canada Agreement trade deal, and U.S. and Chinese officials are expected to renew trade talks.
Perdue acknowledged again Tuesday that times continue to be tough for U.S. farmers. Farm income this year is projected to be nearly 50% below a 2013 high.
"It's not a very rosy picture now," Perdue said, adding that difficult growing conditions this year could hurt yields, further depressing the financial outlook.
The White House's Office of Management and Budget is assessing USDA's proposed disaster payment plan, Perdue said. Farmers could potentially sign up for assistance by the end of August.
That's important in Iowa, where farmers across the state struggled with flooding, especially along the Missouri River.
https://www.press-citizen.com/story...dition-sonny-perdue-15-acre-china/1812838001/
