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USDA to grant second round of tariff relief payments

U.S. Ag Secretary Sonny Perdue says a second round of trade mitigation payments will be made this year, although later than expected.

“I was hoping to get it probably by October/November, but I wouldn’t expect the second tranche should be any later than December.”

Perdue says right now market conditions suggest the original $6 billion estimated in direct payments will be adequate and there are no plans for the program to continue into the 2019 marketing year.  “Farmers will make their best business decisions for 2019 without the expectation of a market facilitation program.”

Payment rates are expected to be the same as the first wave for commodities including cotton, corn, milk, hogs, soybeans, sorghum and wheat.