WASHINGTON, D.C. (RFD News) — The U.S. Department of Agriculture (USDA) says Farmer Bridge Assistance (FBA) Program payments are expected to be issued by the end of February, providing $11 billion in per-acre payments aimed at helping row crop farmers offset recent losses. Payment rates for the program were recently released, prompting questions across the farm sector about how the rates were determined and what producers can expect next.
American Farm Bureau Federation (AFBF) Economist Faith Parum joined us on Thursday’s Market Day Report to break down the latest details of the Farmer Bridge Assistance Program.
In her interview with RFD News, Parum explained what is currently known about per-acre payment rates and how USDA determined them based on the “magnitude of losses” per crop. She also confirmed the expected payment timeline, noting that farmers and ranchers should receive funds by the end of February.
Parum also discussed assistance for crops not covered by the program, like alfalfa and sugar, outlining what remains needed for those speciality crop producers and how the Bridge Payment Program fell short in addressing their losses — and weighed if there will be be more than $1 Billion already earmarked for other crop growers later in the year, perhaps by October, for these other crop growers once the USDA is able to assess specific losses in those sectors.
She concluded the conversation by sharing her overall takeaway from the program and what it means for producers going forward — and what to do if you feel your losses were not considered appropriately, along with the appropriate steps to take to make that known to lawmakers and USDA officials.
Corey Rosenbusch with The Fertilizer Institute joined us to discuss supply chain disruptions and what farmers should watch as global tensions impact fertilizer markets.
