The U.S. Department of Agriculture is issuing up to $10 billion in direct economic assistance to producers.
The department announced enrollment for the Emergency Commodity Assistance Program opened this week. The payments are to help eligible farmers cope with increased input costs and falling commodity prices for the 2024 crop year.
The funds are through the American Relief Act, which became law in December alongside the Farm Bill extension. The USDA had a 90-day deadline for distributing the $10 billion. That deadline was approaching this week, and some farmers were waiting for the funds.
U.S. Secretary of Agriculture Brooke Rollins said producers are facing higher costs and market uncertainty.
“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,” Rollins said.
Experts from the University of Missouri estimate Oklahoma producers could receive almost $300 million dollars.
Eligible crops include wheat, corn, sorghum, canola, peanuts, barley, and soybeans.
The program is administered through USDA’s Farm Service Agency and applications will close August 15.
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