In response to the Department of Agriculture’s tariff mitigation package, the National Corn Growers Association (NCGA) says the plan “won’t make up for lost markets.” The organization reiterated its call for the Administration to rescind tariffs, secure trade agreements and allow for year-round sales of higher blends of ethanol; “no-cost actions that would allow for the marketplace to drive demand.”
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According to an NCGA-commissioned analysis, which NCGA provided to USDA and the Office of Management and Budget, trade disputes are estimated to have lowered corn prices by 44 cents per bushel for crop produced in 2018. This amounts to $6.3 billion in lost value on the 81.8 million acres projected to be harvested in 2018.
USDA’s plan sets the payment rate for corn at just one cent per bushel.
Source: National Association of Farm Broadcasting News Service.