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USDA UpdateMay 21, 2004 The FSA & NRCS Offices will be closed Monday, May 31 in observance of the Memorial Day Holiday. Offices will reopen on Tuesday, June 1. CRP Signup There are press releases being issued by the Department of Agriculture concerning a CRP (Conservation Reserve Program) signup sometime this summer. We don’t believe Kiowa County producers will be eligible to offer land in this signup, since Kiowa County already has over 25% of the cropland in the county enrolled. The exception would be if land administered by the Kiowa County FSA Office is physically located in an adjoining county that has not exceeded the 25% cropland limit. We believe the first time Kiowa County producers will be able to participate in a general CRP signup will in 2007, which is the year many existing contracts expire. Wheat Harvest Some areas of the county will actually have a wheat harvest in the next 30 to 45 days. As we approach harvest, we would like to remind you of a few loan and LDP (Loan Deficiency Payment) rules. At this time market prices for wheat are 70 cents above the county loan rate which means LDP’s are not applicable. If market prices drop below the loan rate you may request an LDP as long as you have not lost "beneficial interest" in the commodity. If you intend to sell grain at the elevator or to another buyer immediately at harvest time, you may want to request a CCC-709 (Direct LDP Agreement). If an LDP is in effect for the grain on the day you sell the grain, you will automatically receive the LDP rate in effect for that date.
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Crop Loans Farm stored and warehouse loans are also available for eligible production. If you have carryover wheat in farm storage from a prior year, you will need to pay a measurement service fee to have it measured before you commingle any current year production. The 2004 rate for wheat is $2.65 per bushel and loans mature 9 months after the month in which the loan is disbursed. If you request a loan on grain stored in the elevator, you will need to pay or arrange for storage for the period of the loan up to maturity.
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