Close Menu
Invest Intellect
    Facebook X (Twitter) Instagram
    Invest Intellect
    Facebook X (Twitter) Instagram Pinterest
    • Home
    • Commodities
    • Cryptocurrency
    • Fintech
    • Investments
    • Precious Metal
    • Property
    • Stock Market
    Invest Intellect
    Home»Commodities»USDA to begin accepting applications for $10B Emergency Commodity Assistance Program – InForum
    Commodities

    USDA to begin accepting applications for $10B Emergency Commodity Assistance Program – InForum

    March 19, 20254 Mins Read


    WASHINGTON — The U.S. Department of Agriculture will start accepting applications for the $10 billion in market-based assistance passed by Congress as part of year-end legislation in December, Sen. John Hoeven, R-N.D., announced Tuesday, March 18.

    Congress on Dec. 21, 2024, passed the American Relief Act of 2025, a continuing resolution that stopped a government shutdown

    but also included $21 billion designated toward aide for farmers with losses from natural disasters in 2023 and 2024, along with $10 billion in farm economic assistance to offset low commodity prices.

    The bill was signed into law by President Joe Biden.

    With the $10 billion in funds set aside for economic assistance, USDA set up the Emergency Commodity Assistance Program to provide economic assistance payments to eligible producers of eligible commodities for the 2024 crop year to help farmers “cope with losses from natural disasters and a difficult farm economy” and to “help preserve family farms and ranches across the country while also continuing to ensure food and agricultural security for our nation,”

    according to a Federal Register document scheduled to publish Wednesday, March 19

    .

    John Hoeven

    John Hoeven

    “This $10 billion in assistance is an important step to help producers recover from the challenging markets and comes as part of our commitment to keep our farmers and ranchers in the game, whether they face natural disasters, challenging markets or trade disputes,” Hoeven said in a statement.

    “Producers are facing higher costs and market uncertainty, and the Trump Administration is ensuring they get the support they need without delay,” U.S. Agriculture Secretary Brooke Rollins said in a statement. “With clear direction from Congress, USDA has prioritized streamlining the process and accelerating these payments ahead of schedule, ensuring farmers have the resources necessary to manage rising expenses and secure financing for next season.”

    Hoeven said he is continuing to work with USDA on advancing the $21 billion in weather-related assistance for losses in 2023 and 2024, which includes $2 billion set aside for livestock producers, including those with losses due to

    wildfires

    .

    Eligible commodities for ECAP include wheat, corn, sorghum, barley, oats, soybeans, dry peas, lentils, chickpeas, canola, flax and sunflower, among other crops. Only one application is required for all ECAP eligible commodities. ECAP assistance will be based on acreage and calculated using a flat payment rate for the eligible commodity multiplied by the eligible reported acres. For acres reported as prevented plant, ECAP assistance will be calculated at 50%.

    Hoeven, who chairs the Senate Agriculture Appropriations Committee and is a senior of the Senate Agriculture Committee, said he has been working with

    Rollins

    to find ways to quickly deliver the assistance, including encouraging USDA to use a streamlined application process to help ensure an efficient and timely process.

    According to Hoeven’s office, USDA will send producers pre-filled applications based on 2024 acreage reporting data after program signup begins on March 19. Producers who still need to submit their 2024 plant and prevented planting data may do so until the program deadline of Aug. 15, 2025. Applications may be submitted online or to local Farm Service Agency offices.

    “Secretary Rollins has committed to getting the funds distributed as quickly as possible, with payments to start going out by March 21,” Hoeven said.

    His office said the initial payments will come to 85% of the total, with a supplemental payment to follow in the summer.

    Hoeven said it’s important that a new farm bill get passed that invests in the farm safety net so that such ad-hoc disaster assistance will no longer be needed.

    The current farm bill

    , officially called the Agriculture Improvement Act of 2018, originally was set to expire in 2023 but now has gotten two one-year extensions. The expiration date now is Sept. 30, 2025.

    “Of course, we needed to do that because we don’t have the new farm bill in place yet,” Hoeven said in a recorded message about the assistance package. “So this is important, but the key is we need to get that farm bill done and it needs to work for our farmers and ranchers.”

    USDA has announced the following per-acre payment rates for crops under ECAP:

    • Wheat: $30.69
    • Corn: $42.91
    • Sorghum: $42.52
    • Barley: $21.67
    • Oats: $77.66
    • Upland cotton and extra-long staple cotton: $84.74
    • Long and medium-grain rice: $76.94
    • Peanuts: $75.51
    • Soybeans: $29.76
    • Dry peas: $16.02
    • Lentils: $19.30
    • Small chickpeas: $31.45
    • Large chickpeas: $24.02
    • Canola: $31.83
    • Crambe: $19.08
    • Flax: $20.97
    • Mustard: $11.36
    • Rapeseed: $23.63
    • Safflower: $26.32
    • Sesame: $16.83
    • Sunflower: $27.23

    Hoeven’s office said more information on ECAP will be available at

    https://fsa.usda.gov/ecap

    .

    Jenny Schlecht

    Jenny Schlecht is the director of ag content for Agweek and serves as editor of Agweek, Sugarbeet Grower and BeanGrower. She lives on a farm and ranch near Medina, North Dakota, with her husband and two daughters. You can reach her at jschlecht@agweek.com or 701-595-0425.





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

    Related Posts

    trois jours de rock et de metal au château de Gisors

    Commodities

    Tournon-d’Agenais. L’art du métal par John

    Commodities

    Cameroun : 12 milliards USD pour raccorder 8 millions de personnes d’ici 2030, le pari de l’émergence énergétique

    Commodities

    de possibles baisses de production dans le nucléaire dès lundi

    Commodities

    ce Poitevin qui met le feu au festival metal de Clisson

    Commodities

    La première place pour les électriques à l’EcoGreen Energy 2025

    Commodities
    Leave A Reply Cancel Reply

    Top Picks
    Commodities

    Tabuk Agricultural Development enregistre une perte nette trimestrielle de 7,1 millions de riyals

    Commodities

    Egypt, Nigeria agree to strengthen agricultural cooperation

    Commodities

    Ring Energy Provides Management Team Update

    Editors Picks

    Windsor and Maidenhead council property company ‘put developers first’

    April 3, 2025

    Asia-Pacific Strategic Investments continuera de suivre de près l’évolution de l’enquête sur le PDG et le directeur général.

    May 8, 2025

    Africa’s Agricultural Giants: Top 5 Countries with the Most Farmland

    March 5, 2025

    OIL PRICES | WTI and BRENT OIL PRICE CHART

    April 16, 2025
    What's Hot

    Predictions for cryptocurrency adoption in online games – The Upcoming

    October 21, 2024

    $184 Million Fund II Closed To Invest In Companies Enabling Future Of Fintech

    October 25, 2024

    Thailand’s SEC Recognizes Tether’s USDT As Approved Cryptocurrency

    March 10, 2025
    Our Picks

    These buy-rated ASX dividend shares offer 5% to 8% yields

    February 24, 2025

    Egypt to enhance commodity exchange for economic contribution

    July 21, 2024

    Artemis London 2024: Meet over 110 organisations interested in cat bonds & ILS

    August 29, 2024
    Weekly Top

    Cameroun : 12 milliards USD pour raccorder 8 millions de personnes d’ici 2030, le pari de l’émergence énergétique

    June 21, 2025

    Wave Cameroun paiement • Révolution mobile

    June 21, 2025

    Syndrome de Silver Russel: le combat d’une mère et de l’ex-recteur de l’UNIGE

    June 21, 2025
    Editor's Pick

    Agricultural research partnerships forge new pathways for productivity gains

    April 22, 2025

    Copper oxide coupled with photon upconversion for solar water splitting

    July 20, 2024

    GameStop shares soar by 20% after rumors of large investments in cryptocurrency

    February 14, 2025
    © 2025 Invest Intellect
    • Contact us
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.