‘More time needed’ for Coronavirus Food Assistance Program
ALTOONA, Wis. (WEAU) - Farmers and the federal government need more time. That’s what a big group of farm organizations are telling the USDA about the Coronavirus Food Assistance Program. The groups’ claim the August 28th deadline to sign up for the program doesn’t give farmers or Farm Service Agency offices enough time to process all the requests for aid. As of this past Monday, only 7 billion of the program’s $16 billion that was set aside for the program has been mailed to farmers. USDA officials say they have only dealt with 55% of the aid requests from farmers so far.
USDA economists will release their August World Agriculture Supply and Demand Estimates tomorrow and it’s expected to bearish for prices. The report is expected to show this year’s U.S. corn crop will be over 15 billion bushels on average yields of over 180 bushels an acre. That would boost our ending stocks to almost 2.8 billion bushels-the highest they’ve been since the 1980s. Soybeans are expected to yield just under 4.3 billion bushels this year with per acre yields of almost 51 and a half bushels per acre. That size crop would put our ending soybean stocks at about 527 million bushels-up about 100 million from the July estimate. The soybean price is expected to average $8.50 a bushel during the 2020-2021 marketing year.
Early reports from the annual GRO Intelligence Midwest Crop Tour, the crops will be big this year. Day one of that tour focused on Nebraska and South Dakota. In Nebraska, the corn crop is now estimated to average almost 199 bushels an acre with soybean yields just south of 64 bushels an acre. South Dakota’s corn crop is now pegged at nearly 175 bushels an acre with soybeans expected to yield about 50 bushels. Before the end of this week that tour will also look at crops in Missouri, Kansas, Minnesota, Iowa, Wisconsin, Illinois, Indiana and Ohio. Their final report will come out this Friday.
This year’s 93rd National FFA Convention in late October will be a little different-it will be a virtual meeting because of the Covid-19 pandemic. But that’s not the only thing that will be different. For the first time in many years, Wisconsin will not have a candidate in any of the 4 Stars over America categories. That convention will be held the week of October 28th.
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