Logan County E-NEWS
Thursday, September 23, 2010 Issue# 09-10
Logan County Farm Service Agency Phone: (217) 735-5508 Ext. 2
1650 5th St Fax : (217) 732-9916
Lincoln, IL 62656 Hours: M-F, 8:00 am to 4:30 PM
News & Information
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· Marketing Assistance Loans
· 2010 Direct/ACRE payment schedule
· Conservation Reserve Program
Marketing Assistance Loan Program
Commodity loans allow producers to maintain ownership of grain in hopes of better marketing opportunities while taking advantage of low cost operating capital. The commodity loan interest rate for September 2010 is: 1.250%
· Cash Rent Lien Waivers – The Illinois Public Act 92-819 provides landlords with an automatic lien position on the crops grown or growing on their land until the terms of their lease is satisfied by the operator. The act further gives the landlord lien priority over any other agriculture lien. Therefore, FSA requires form CCC-679 (lien waiver) on file from all applicable landlords for the applicable crop year prior to disbursing a CCC commodity loan. Through recent policy changes, loan applicants are allowed to get cash rent lien waivers signed prior to making application for a loan. Therefore, for crop year 2010, cash rent lien waivers and DCP contract signatures may be addressed at the same time. If interested, please request Form CCC-679 (Lien Waiver) when initiating your DCP contracts.
· Loan Repayments - For the protection of the grain buyer, special emphasis must be given to the buyers’ responsibility when purchasing CCC loan collateral. Essentially, the buyer becomes responsible for the repayment of the loan collateral. The buyer may make payment to CCC by either of the following methods:
* Two Check Method - The buyer may contact the County Office to obtain a payoff amount applicable to the delivered bushels and issue a check solely to CCC accordingly. Any additional grain proceeds will be issued by the buyer and made out solely to the grain loan customer. (If mailing check to CCC, be sure to include delivery evidence.)
* Joint Check Method - The buyer may issue payment jointly to CCC and the grain loan customer for the entire amount of the grain proceeds. Any additional grain proceeds will be issued solely to the grain loan customer via refund check by CCC. (If mailing check to CCC, be sure to include delivery evidence.)
Note: The County Office will NOT endorse a buyer’s check to enable the producer to provide a personal check.
2010 DCP & ACRE “Direct” Payment Schedule
FSA will soon start processing the final Direct payments for farms participating in the 2010 DCP & ACRE Programs. The planned schedule is:
2010 DCP/ACRE final Direct payments will be issued through web-based software on or about October 8, 2010.
2010 DCP/ACRE advance Direct payments will stop being processed as of September 30, 2010. Eligibility determinations must be wrapped up before this date for 2010.
2009 ACRE/ACRE payments will be issued through web-based software on or about October 28, 2010, for barley, corn, dry pea, grain sorghum, lentil, oat, peanut, soybean, upland cotton, and wheat crops. This is assuming BOTH triggers are met for the farm participating in ACRE.
As of 09/23/2010, the 2009 State Trigger has not been set. ACRE information LINK
FSA Announces New Conservation Loan Program
The Farm Service Agency makes and guarantees conservation loans on farms and ranches to help conserve our natural resources. The Conservation Loan (CL) Program provides farmers with the credit necessary to implement conservation measures on their land.
The direct CLs loan limit is up to $300,000 and guaranteed CLs up to $1,112,000 (amount adjusted for inflation), may be available by applying with lenders working with FSA to obtain a guarantee.
Applicants will work with Natural Resources and Conservation Service (NRCS) Staff to develop a conservation plan. Conservation practices must be approved by NRCS before FSA can provide financing. Examples of conservation practices include installation of conservation structures; establishment of forest cover; installation of water conservation measures; establishment or improvement of permanent pastures; transitioning to organic production; manure management, including manure digestion systems; etc.
Interested? Want to learn more? Please call Tony Schmillen at 217-735-5508 ext. 2.
It’s that time of the year…take extra precaution traveling during the fall season.
Have a safe harvest!
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217-735-5508 Ext. 2
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