|Commodity loan deadline ahead|
We wish to remind producers considering a commodity loan before the end of the year, that they need to allow up to two weeks before Dec. 31 to get the loan requested, processed, and funds disbursed if they want the income in 2009.
This is due to the fact that the local office no longer issues checks. Loan funds will be disbursed out of our Treasury Department located in Kansas City.
Marketing Assistance Loans are available for producers who share in the risk of producing the crop and maintaining beneficial interest in the crop during the duration of the loan.
Beneficial interest means retaining the ability to make decisions about the commodity, responsibility for loss or damage to the commodity, and title to the commodity.
Producers will be responsible for maintaining the quality and condition of farm-stored grain throughout the term of the loan, and with the increased moisture conditions this fall, maintaining loan condition will be a primary concern.
You do not have to be participating in the Direct and Counter-Cyclical Programs to be eligible for commodity loans.
If you choose to utilize loans you will need to request your loan as soon as possible for disbursement before Dec. 31 or immediately after Jan. 1.
Please contact the office for additional information and requirements.
Reminder: To be eligible for SURE (Supplemental Revenue Assistance Program), all crops of economic significance must be insured by Federal Crop Insurance or by NAP.
2010 NON-INSURABLE CROP DISASTER ASSISTANCE PROGRAM (NAP): March 15, 2010 is the closing date for grass, mixed forage, sorghum forage, alfalfa, spring seeded annual crops such as barley, oats, and vegetables.