Baseline Update for U.S. Agricultural Markets

FAPRI-MU Report #03-20:  The outbreak of COVID-19, as well as U.S. government response to the outbreak, continues to impact agricultural markets, disrupting supply chains, shifting consumer demand and expanding government outlays. This update incorporates only government payment programs that were announced before June 1, 2020. Thus, it includes $16 billion in Coronavirus Food Assistance Program (CFAP) payments in 2020, but does not assume any additional programs that might be created.