World Perspectives

Between Prevented Plantings and MFP: How Much More Corn?

All corn acres in the U.S. are past the deadline for full crop insurance coverage, meaning that farmers can either elect to take prevented planting payments or plant late and see crop insurance coverage drop for each day past the deadline. 5 June is the latest deadline, mostly in the eastern Corn Belt, and the last day to elect prevented planting is 15 days after. Farmers who elected to take prevented planting coverage were assumed to be ineligible for the Market Facilitation Program (MFP) payments, which are intended to offset the impact of retaliatory tariffs on U.S. crops. Yesterday, however, USDA Secretary Perdue issued the following statement: USDA is not legally authorized to make Market Facilitation Program payments to produce...

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