Farm Bailout a Mixed Bag for MN Grain Producers
UNDATED -- As the United States and China continue their trade war, grain farmers can now sign-up to get some federal help to offset expected losses.
Stearns County farmer Bill Lieser grows corn and soybeans on his Lake Henry farm. He says the one-cent back per bushel of corn won't do much to cover the estimated loss of 44-cents per bushel.
The bailout, known as the Market Facilitation Program, will give soybean farmers $1.65 per bushel on up to 50% of their yield. Lieser says that price should help soybean farmers more.
Lieser says they're expecting a very good corn yield this year which should help offset some of the losses, but he says it will still be difficult for most farmers to break even on corn.
Even so, sunny, dry weather is needed to get the harvest completed.
Soybeans are especially vulnerable to weather conditions because Lieser says in order to get the best price, beans should have no more than 13% moisture when bringing them to market.
Lieser says it costs farmers more to artificially dry the grains and it's also more difficult to get the right moisture content when artificially drying beans.