LUBBOCK, TX – As Congress gets back to work this week, following their regular August recess, eyes are focused on whether the two chambers and two parties can come together for a second-round off Coronavirus assistance. It appears the Senate will take up a light approach to assistance to simply stake their claim to a very conservative plan to help those most in need from the economic fallout of the COVID-19 shutdowns. Though agriculture has been asking for additional assistance, following the earlier Coronavirus Food Assistance Program (CFAP), Agriculture Secretary Sonny Perdue has already gone on record as saying USDA will be delivering more to farmers, ranchers, and other agribusiness interests. This comes as row crop farmers prepare for possible payments from either the Agriculture Risk Coverage (ARC) and Price Loss Coverage (PLC) programs authorized by the 2018 Farm Bill. Soybean farmers enrolled in the PLC program are not expected to receive a PLC payment for the 2019 season, but many other row-crop producers will. Steve Verett, Executive Vice President with Plains Cotton Growers (PCG) suggests that seed cotton would receive .0164¢ per pound, wheat would garner 92¢ per bushel, peanuts 6.25¢ per pound, corn at 10¢ per bushel, and grain sorghum 70¢ per bushel based upon figures released last month from USDA. The Department will update its prospective PLC payments in the next few days.
(SOURCE: All Ag News)