IMPORTANT DATES TO REMEMBER:
• CCC-633EZ Page 1 – Loan Deficiency Payment (LDP) agreement and request – MUST BE SIGNED AND ON FILE WITH FSA OFFICE BEFORE SELLING THE GRAIN.
• COC meeting - August 9th
• 2nd Tuesday each month - Farm Loan personnel in Kiowa County FSA Office.
• CRP GRASSLANDS SIGNUP - No date announced for deadline.
LOAN DEFICIENCY PAYMENT (LDP)
The office has been delayed in processing the LDP requests due to software issues. Late this week the office received notification that payments can be released, however there are numerous manual eligibility checks that will need to be done on our end before the payment can be released. We ask and appreciate your patience. It is better to get it right the first time then to ask for money back.
LDP rates for Hard Red Wheat in Kiowa County from last week. Rates are updated daily by 8:00 a.m. MST.
Commodity Effective Date Loan Rate ($) Effective PCP ($) Effective LDP Rate* ($)
Wheat – Hard Red Winter 07/25/2016 $ 3.08 $ 2.97 $ 0.11
Wheat – Hard Red Winter 07/26/2016 $ 3.08 $ 3.01 $ 0.07
Wheat – Hard Red Winter 07/27/2016 $ 3.08 $ 3.02 $ 0.06
Wheat – Hard Red Winter 07/28/2016 $ 3.08 $ 3.01 $ 0.07
Wheat – Hard Red Winter 07/29/2016 $ 3.08 $ 2.99 $ 0.09
Be reminded, if you sell your grain and request the LDP after the sale of the grain the producer will receive the rate for the day the grain was sold. A current ledger or load summary from the elevator is required to verify bushels in open storage or sold bushels.
Producers who have farm stored grain or have grain stored in the elevator can consider making a request for a commodity loan on the grain. 2016 harvested grain that is under loan is not eligible for LDP payments and visa-versa grain that has had the LDP requested or applied for is ineligible for commodity loan. FSA has two types of commodity loans – farm stored and warehouse.
Requirements for farm stored loan–
• Self- certify the number of bushels in the bin(s) with scale tickets.
• Request a bin measurement through FSA to determine the quantity for loan.
• 9 month maturity
• Interest rate based on the rate for the month of disbursement
• Marketing authorizations are authorized anytime during the 9 month loan. Producer must notify the FSA office before moving grain into an elevator and complete a marketing authorization. Authorizations are valid for 30 days, can be extended upon request. Payoff of the loan will come from the elevator.
• If grain is commingled with other producer’s grain - paperwork must be completed by both parties.
• Grain bags are eligible for loan, if the condition of the bags are determined to be in good shape.
• Lien waiver(s) are required before disbursement of the loan from any financial institution or other business that holds a lien on the grain.
Requirements for warehouse loan –
• Warehouse receipt is required.
• Nine months of storage paid to the elevator.
• Upon full payment of the loan the warehouse receipt is returned to the elevator.
• Lien waiver(s) are required before disbursement.
Loan rate for hard red winter or white wheat in Kiowa County and area counties are as follows. For commodity loans and LDP’s producers receive the loan rate for the county in which the grain is stored.
Kiowa - $3.03
Cheyenne - $3.03
Prowers - $3.03
Lincoln - $3.08
Greeley, KS - $2.98
Again the website to check daily LDP rates is as follows:
USDA SERVICE CENTER CONTACT INFORMATION
Telephone 719-438-5851 FSA (Ext 2), NRCS (Ext 3). FSA Fax number: fax2mail 844-332-7501
KIOWA COUNTY FARM LOAN CONTACT INFO
SERVICE CENTER OFFICE HOURS:
Monday through Friday - 8:00 a.m. to 4:30 p.m. By appointment only on Friday.
For information on programs visit our website located at www.fsa.usda.gov or like us on Facebook, or follow us on Twitter.