President Donald Trump late last week said that USDA would be coming soon with an aid plan for U.S. ag producers, with the package to be around $16 billion. That figures to be the $9.5 billion in the third round of COVID-19 aid that is to “support agricultural producers impacted by coronavirus, including producers of specialty crops, producers that supply local food systems, including farmers' markets, restaurants, and schools, and livestock producers, including dairy producers.”
Plus, there is around $7 billion to $9 billion in Commodity Credit Corporation (CCC) authority remaining.
Indications are the plans for the aid will head to the Office of Management and Budget (OMB) this week, with announcement of the effort either yet this week or next week, according to contacts.
The broader aid effort involving the additional $14 billion in CCC authority will not come immediately as USDA Secretary Sonny Perdue has indicated the additional CCC authority is not available until July.
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