A one-year extension of the Farm Bill has come and gone, leaving farmers without much direction since late September, but there is new hope the Farm Act could bridge the gap.
The newly filed legislation would give farmers payments based on losses on eligible acres. Sponsors say the $20 billion legislation could give farmers some much-needed support.
Frequent Market Day Report guest Paul Neiffer says there are several differences compared to other support programs.
“Unlike ARC and PLC which are based solely on base acres, and again, you only get paid on 85% of base acres, this is based on what did you plant for 2024. So if you planted 1000 acres of corn in 2024 and 1000 acres of soybeans, you’re going to be paid based on 1000 acres of corn and 1000 acres of soybeans, plus you’re going to then be eligible for an additional 50% of the acres that were prevented from being planted.”
