Producer Page: Tariff Payment
- Created: Thursday, 30 August 2018 09:05
- Published: Thursday, 30 August 2018 05:00
- Written by Mark
- Hits: 566
The Market Facilitation Payment (also known as the tariff payment)
Some of the details of this new financial assistance for farmers has been announced. The payments are as follows:
Corn: 1 cent per bushel
Soybeans: $1.65 per bushel
This round of payment is on 50% of your 2018 production.
Pork: $8 per head
This payment is based on your hog inventory as of August 1, 2018
There is a $125,000 payment limitation on this aid. However the limit is separate from other programs so it will not count against any ARC-County or PLC limits.
There may be another payment in the future “if warranted”………we’ll wait and see on that one.
A calculation example:
---100 acres of soybeans yielding 50 bushels per acre equals 5000 bushels total production
---5000 bushels x $1.65 payment rate x 50% payment level = $4,125 total payment ($41.25 per acre)
---100 acres of corn yielding 180 bushels per acre equals 18,000 bushels total production
---18,000 bushels x .01 payment rate x 50% payment level = $90 total payment (90 cents per acre)
No need to rush into the FSA office as a corn and soybean farmer, you will need to be able to verify your 2018 production, and the staff probably doesn’t know a whole lot more than you do at this point about the paperwork needed. Touch base with them later in September.
Be safe this harvest!!!!!
About Mark Warmka
Mark has worked at Peoples State Bank since 2003, serving as lead agricultural lending officer and bank Senior Vice President. He is also a member of the Board of Directors. Mark has an extensive background in the financial services industry, possessing both investment and insurance licensing and is fully accredited as a crop insurance agent.
He and his wife, Kate, an elementary teacher in Blue Earth, live on and manage the home farm near Easton. Their daughter, Amanda, is a Physician Assistant at UHD Hospital and daughter, Sara, is teaching and coaching at Fairmont Public Schools.
You can reach Mark by email or at 507-553-3155.
» More blog posts by Mark here