Wheat, oat and honey crop loan deadline nears
Eligible producers of 2008 crop wheat, oats, and honey are reminded of the March 31, deadline for requesting Commodity Credit Corporation (CCC) commodity loans; and/or Loan Deficiency Payments (LDPs), if applicable, through the local office of the Farm Service Agency (FSA).
According to Robert Helmer, county executive director for the Evangeline Parish Farm Service Agency, eligible producers may choose whether to use the loan, or receive a loan deficiency payment, if applicable, on any given quantity of the crop for which benefits have not been previously obtained and beneficial interest is maintained. Beneficial Interest is defined as title to and control of the commodity. CCC loans mature on the last day of the ninth month after the month the loan is disbursed. Helmer stated if an LDP is requested, the LDP rate is based on the date of request. At the time of printing, there is no LDP rate in effect for wheat, oats, or honey. March 31, is also the final date to request a graze-out payment, if there was an LDP rate on wheat or oats at the time of request.
For additional details on 2008 crop wheat, oats, and honey loans or loan deficiency payments, or the graze-out program, contact the Evangeline Parish Farm Service Agency Office prior to the March 31, deadline.