The USDA has already allocated over $6 billion in payments under the Farmer Bridge Assistance Programs.
Payment rates for specialty crops under the program are due in early April. “I believe we’ll have those payment rates in place by early next month,” Deputy Ag Secretary Stephen Vaden told Politico. “We’ll publish those payment rates as soon as we have them, and then quickly get going on the payment part of it.”
He added that sugar beets, cotton, and rice are the commodities in the most financial distress because of their high production costs and trade issues.
In fact, because of those issues, Senate Ag Chair John Boozman recently told Bloomberg that he’s calling for new federal aid to farmers in the wake of a spike in gasoline, diesel, and fertilizer prices that are driven by the military offensive against Iran.
“I think they’re definitely going to need more assistance,” Boozman said.