Producers who are eligible for marketing loans are also eligible for loan deficiency payments (LDPs) should the posted county price fall below the county loan rate. Producers also can purchase a commodity certificate that may be exchanged for the outstanding loan collateral. Unlike LDPs, use of commodity certificates does not affect payment limitations. Producers can check their daily LDP rates online at www.fsa.usda.gov.

Michigan FSA Reminds Commodity Crop Producers of Marketing Loans

EAST LANSING, MI, August 11, 2016 - Michigan USDA Farm Service Agency (FSA) Executive Director Christine White reminds wheat producers that FSA Marketing Assistance Loans can help meet cash flow needs without selling commodities when market prices are at harvest-time lows.

“In the current marketing environment for commodity crops, producers are encouraged to contact our office to learn more about marketing loans so that they can make the best choice for their farming operations,” said White.

Producers who are eligible for marketing loans are also eligible for loan deficiency payments (LDPs) should the posted county price fall below the county loan rate. Producers also can purchase a commodity certificate that may be exchanged for the outstanding loan collateral. Unlike LDPs, use of commodity certificates does not affect payment limitations. Producers can check their daily LDP rates online at www.fsa.usda.gov.

For a commodity to be eligible for a loan, loan deficiency payment, or certificate, the producer must have beneficial interest in the commodity, defined as having title, possession and control of the commodity, and responsible for loss of or damage to the commodity. All related application forms must be completed at the local FSA office prior to loss of beneficial interest. Other eligibility requirements may apply; consult your local FSA office for more information.

Marketing assistance loans are also available for other commodities, such as corn, grain sorghum, barley, oats, upland cotton, extra-long staple cotton, long grain rice, medium grain rice, soybeans and other oilseeds (including sunflower seed, rapeseed, canola, safflower, flaxseed, mustard seed, crambe and sesame seed), dry peas, lentils, small chickpeas, large chickpeas, grade and non-graded wool, mohair, unshorn pelts, honey and peanuts.

For more information, visit www.fsa.usda.gov/pricesupport. To find your local USDA Service Center, go to http://offices.usda.gov.

 

Contact:
Savannah Halleaux
517-324-5110
savannah.halleaux@mi.usda.gov

USDA is an equal opportunity provider, employer and lender. To file a complaint of discrimination, write: USDA, Office of the Assistant Secretary for Civil Rights, Office of Adjudication, 1400 Independence Ave., SW, Washington, DC 20250-9410 or call (866) 632-9992 (Toll-free Customer Service), (800) 877-8339 (Local or Federal relay), (866) 377-8642 (Relay voice users).