May 20, 2020
Washington, D.C. May 19, 2020. USDA has released the details of its Coronavirus Food Assistance Program (CFAP), USDA’s $16 billion COVID-19 relief package for agriculture and, upon reviewing those details, the American Soybean Association (ASA) is pleased that soybeans are included, as well as livestock, a top customer for soy.
ASA President Bill Gordon said, “We are very pleased that livestock producers are getting much-needed relief. Soybean farmers stand with our livestock producers, so this is both needed help for us and welcomed news for our friends in livestock.”
Payments will be available for eligible producers who have suffered a 5% or greater price decline from mid-January to mid-April 2020 because of the COVID-19 pandemic, and who are facing increased marketing costs for inventories. CFAP assistance is available to livestock producers who have an ownership interest in eligible livestock that have suffered a five percent-or-greater price decline as a result of the COVID-19 pandemic and face additional significant costs in marketing their inventories due to unexpected surplus and disrupted markets.
Producers of soybeans and other eligible commodities will be able to apply for assistance beginning May 26 through their local Farm Service Agency (FSA) Service Center.
The American Soybean Association (ASA) represents U.S. soybean farmers on domestic and international policy issues important to the soybean industry. ASA has 26 affiliated state associations representing 30 soybean producing states and more than 300,000 soybean farmers. More information at soygrowers.com.