May 21, 2020
Secretary Sonny Perdue this week released details of the Coronavirus Food Assistance Program (CFAP), U.S. Department of Agriculture’s $16 billion COVID-19 relief package. ASA is pleased that soybeans are included, as well as livestock, a top customer for soy. Producers of soybeans and other eligible commodities can apply for assistance through their local Farm Service Agency (FSA) beginning May 26 through Aug. 28, 2020. It is strongly encouraged that individuals prepare as soon as possible for the application process. USDA has compiled a list of CFAP FAQs, updated as of May 20.
Payments will be available for eligible producers who have suffered a 5% or greater price decline from mid-January to mid-April because of the COVID-19 pandemic, and who are facing increased marketing costs for inventories. That assistance includes livestock producers who have an ownership interest in eligible livestock that have suffered a 5% 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.
A complete list of eligible non-specialty commodities and the CFAP payment rates can be found here, and additional details on the livestock, dairy, and other CFAP components can be found here on farmers.gov.