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Frequent Contributor
Posts: 53
Registered: ‎05-14-2010

MFP Payments

It was announced yesterday the government was going to delay the second half of the MFP payments in hopes of reaching a trade deal with China. How you all feel about this? Hasn't there already been enough damage done to warrant the second half payment even if a deal of some kind is reached? There are alot of producers who have already had to market their beans - not being able to wait for a "trade deal". Whats your predictions on all this?
Veteran Contributor
Posts: 107
Registered: ‎06-14-2018

Re: MFP Payments

Trump got their mid term votes, now it's time to cast them out to sea. 

Senior Contributor
Posts: 450
Registered: ‎08-02-2012

Re: MFP Payments

Exactly, said this four months ago he would screw his own mother given the chance. Crooks are crooks ... almost like a wall funded by Mexico, or cheaper universal health care that is cheaper for everyone. We all noticed they didn’t delay the tax cuts for the rich though went through the day they passes it. #impeach #lock him up
Senior Contributor
Posts: 376
Registered: ‎01-12-2012

Re: MFP Payments

Well at least they have a pretty good idea of exactly what  is out here on the farms and didn't cost em much. Think they'll let us all know on the Jan report didn't think so.

Veteran Advisor
Posts: 1,517
Registered: ‎10-18-2016

Re: MFP Payments

Since I'm not in the farm program I get nothing from the bean payments, but it doesn't bother me.  It's surprising to me that more bankers aren't forcing producers to hedge their crop.

Veteran Advisor
Posts: 4,725
Registered: ‎05-13-2010

Re: MFP Payments

Jim  maybe  you  could  open  up a  marketing  advisory  -  -  -

 

 

Honored Advisor
Posts: 17,907
Registered: ‎05-13-2010

Re: MFP Payments

I wonder how much a "trade deal" will improve the bean market....see, FWIW I don`t think the trade disruption was the biggest contributor to the price decline.   It had some, but 3, 4 yrs of "better than expected yields" here and S.A. is the millstone on the bean market neck.

Veteran Advisor
Posts: 4,725
Registered: ‎05-13-2010

Re: MFP Payments

BA  -  farm  radio  station  - Farm Financial radio  spots  say  different ?  

Honored Advisor
Posts: 17,907
Registered: ‎05-13-2010

Re: MFP Payments

[ Edited ]

For some reason my `puter is being stubborn about pasting stuff (don`t be too sad , Liberals)  but in 2017 summerish cash beans dropped below $7.50 that was months  before the "tariff wars" .  This year late summerish beans dropped below $7.50 a day or two and sprung back and that was in the midst of the tariff war.  You look at late spring bean prices the tariffs kicked in and at the SAME time all those high percent "planting progress" high percent "good to excellent" rating came out.  S Minn and N Iowa were the bullseye for crappy weather but where tynne Morgan, Al Pell, Clinton Griths Orion Samuelson, Max Armstrong and Market to Market is taped in Johnston, Iowa and Doug Cooper and the WHO radio gang it was all "bin buster crop comin`!!!"

 

So yeah tariffs in combination with excellent crops in most of the country caused beans to drop about than $1.50/bushel, who gets the lion`s share of that blame is debatable.   If China was still unimpededly taking advantage of us on trade, I really doubt beans would be as high as they were in April/May...too biga crop was on the way.

Senior Contributor
Posts: 349
Registered: ‎11-13-2012

Re: MFP Payments

Jim.......Don't have to be in Farm Program to get bean payment.