The U.S. Department of Agriculture last Friday announced $14 billion in additional aid from the Commodity Food Assistance Program (CFAP 2) to assist farmers and their customers recover from the continued financial implications of the COVID-19 pandemic.
Program enrollment is open through December 11, and producers can download application forms prior to visiting their local FSA office. Producers can also register to participate in a webinar scheduled for September 24 to learn more.
Corn is an eligible commodity under the row crop/price triggered commodities. CFAP 2 provides an effective payment rate of $0.232/bushel on eligible corn production. USDA has a specific resource website for row crops at www.farmers.gov/cfap/row-crops.
NCGA analysis projects a $59 per acre average revenue decline for the 2019 corn crop and an $89 per acre average revenue decline for 2020, compared to pre-COVID-19 projections. If realized, the 2020 crop year revenue would be the lowest corn revenues since 2006. Residual impacts from COVID-19 on corn prices are very likely to persist into 2021 and possibly beyond.
Since March, NCGA has taken a series of actions to help corn farmers recover from the financial impacts of the pandemic, including advocating for further Congressional action and the development of a Demand Recovery Plan to shore up the near term and better position corn farmers to take advantage of longer-term opportunities to grow demand.