(Posted Fri. May 17th, 2019)
The National Corn Growers Association (NCGA) today provided the U.S. Department of Agriculture (USDA) with recommendations outlining both short and long-term actions that would provide assistance to farmers facing losses due, in part, to the most recent tariff increases and prolonged trade dispute with China.
NCGA analysis, capturing corn market impacts from May 2018 to April 2019, showed an average price loss of $0.20/bushel. In March and April of 2019, as trade talks with China lagged on, that loss widened again to closer to $0.40/bushel.
Given these losses, NCGA is urging USDA to improve upon last year’s Market Facilitation Program (MFP) which set the payment rate for corn at just one cent per bushel, to make sure that assistance more equitably compensates farmers for market losses. Beyond USDA, NCGA is also urging the Administration to address demand destruction caused by the EPA’s small refinery exemptions to oil refiners, among other actions.
NCGA members have been urging President Trump to consider the full scope of challenges facing farmers and sharing their personal stories on social media, using the hashtag #APennyWontCutIt.