Round one of the three potential payments is 50 percent of the overall amount farmers may receive. Fordyce says expects up to $14.5 billion of payments will be sent to farmers, pending the trade negotiation progress.
Another 25 percent of the total would go out later this fall, if the Department of Agriculture deems the payments necessary. The final round, if needed, is planned for some time around January.
Fordyce notes there has been a good response to the program.
The payments are meant to offset the losses stemmed from the Trump trade agenda and trade war with China. For more information, stop by your local USDA Service Center.