End Rows for Dec. 17, 2013
Maintaining the quality of loaned grain
Producers who have farm-stored grain pledged as collateral for a marketing assistance loan should remember that they are responsible for maintaining the quality of the grain through the term of the loan.
If the grain needs to be moved in order to maintain the quality, you need to call us before any grain is moved, even to a different bin at the same bin site.
Unauthorized disposition of grain
If loan grain has been disposed of through feeding, selling or any other form of disposal without prior written authorization from the county office staff, it is considered unauthorized disposition.
The financial penalties for unauthorized dispositions are severe and a producer's name will be placed on a loan violation list for a two-year period.
Always call before you haul any grain that is under loan.
December interest rates
Here are the Interest Rates for December:
-- Marketing Assistance Loans (MAL) - 1.125
-- Farm Storage Facility Loans (FSFL) 7 year term - 2.000 percent
-- Farm Storage Facility Loans (FSFL) 10 year term - 2.625 percent
-- Farm Storage Facility Loans (FSFL) 12 year term - 2.875 percent
-- Farm Operating Loan Direct - 1.875 percent
-- Farm Ownership Loan Direct - 4.125 percent
-- Farm Ownership Loan Direct (Down Payment, Beginning Farmer) - 1.500 percent
Waiver for late-filed wheat and hay/graze acreage reports
The deadline for reporting 2014 hay and pasture was Nov. 15 and the deadline to report 2014 wheat acres was Dec. 15.
This is a reminder that the late-filing fee is waived until Jan. 15, so there is still time to file your report without paying a late-fee.
USDA Service Centers will be closed on Wednesday, Dec. 25, for Christmas and on Wednesday, Jan. 1, for New Year's Day.