Posted 5/20/2020 08:54 (#8269072 - in reply to #8268959) Subject: RE: Government bailout and forward priced grain
If you read what USDA says on it's site vs. what some sources are throwing out it is totally different. USDA says 50% of 2019 production OR Inventory of 2019 production on hand as of January 15th, 2020 WHICHEVER IS SMALLER. THEN, MULTIPLY THAT NUMBER BY 50% and then by payment rate. Soooo, those holding a majority of their 2019 crop inventory as of Jan 15,2020, are still only getting 50% of production qualified....not a "USDA home run" due to not forward marketing! But, those with a majority of 2019 production marketed by 1/15/2020 obviously hit higher prices than post pandemic prices. Programs supposedly designed for aid due to pandemic price effect. Fair.....what government program is? I can argue the point that this is helping out the poor marketing decisions made by some tho. But technically this program is supposed to help those that haven't marketed all their crop before this whole thing hit. Personally, ALL these Government handouts I feel is a major false sense of security to our producers and the country and will come back and bite us in the rear.