Aid for Oilseed Producers Announced

February 9, 2000

USDA will distribute $475 million to farmers who produced oilseeds last year. Producers have until Feb. 18 to report acreage, and sign-up for the income assistance program will be held Feb. 28-March 31.

Eligible oilseeds are soybeans, sunflowers, flaxseed, canola, rapeseed, safflower seed, mustard and crambe. A producer’s payment will be equal to payment acres times the payment yield times the national payment rate.

For producers who planted oilseeds in 1999 and in 1997 and 1998, the payment acreage is the higher of the 1997 or 1998 acreage planted to the oilseed. For these producers, the payment rate is the highest of the county average yield for soybeans (the national average yield for minor oilseeds) from 1994 through 1999 minus the high and low yields; the producer’s proven yield for 1997 or the producer’s proven yield for 1998.

USDA says about 850,000 farms reported oilseed crop acreage in crop year 1999. Iowa, Illinois, Indiana, Minnesota and South Dakota are the top producing states. A typical soybean farm of 100 acres with a 38 bushel per acre yield can expect about $533 from this program, USDA says.