|
 August Interest Rates
90-Day Treasury Bill .125 %
Farm Operating Loans — Direct 2.625 %
Farm Ownership Loans — Direct 4.00 %
Farm Ownership Loans — Direct Down Payment, Beginning Farmer or
Rancher 1.50 %
Emergency Loans - 3.625 %
Farm Storage Facility Loans - 7 years - 2.125 %
Farm Storage Facility Loans - 10 years - 2.375 %
Farm Storage Facility Loans - 12 years - 2.500 %
Commodity Loans 1996-Present - 1.250 %
USDA Opens Enrollment Period for Agriculture Risk Coverage
and Price Loss Coverage Safety-Net Programs
U.S. Department of Agriculture (USDA) announced that eligible
producers may now formally enroll in the Agriculture Risk
Coverage (ARC) and Price Loss Coverage (PLC) programs for 2014
and 2015. The enrollment period began June 17, 2015, and will
end Sept. 30, 2015.
The new programs, established by the 2014 Farm Bill, trigger
financial protections for agricultural producers when market
forces cause substantial drops in crop prices or revenues. More
than 1.76 million farmers have elected ARC or PLC. Previously,
1.7 million producers had enrolled to receive direct payments
(the program replaced with ARC and PLC by the 2014 Farm Bill).
This means more farms have elected ARC or PLC than previously
enrolled under previously administered programs.
Nationwide, 96 percent of soybean farms, 91 percent of corn
farms, and 66 percent of wheat farms elected ARC. 99 percent of
long grain rice farms, 99 percent of peanut farms, and 94
percent of medium grain rice farms elected PLC. For data about
other crops and state-by-state program election results go to
www.fsa.usda.gov/arc-plc.
Covered commodities under ARC and PLC include barley, canola,
large and small chickpeas, corn, crambe, flaxseed, grain
sorghum, lentils, mustard seed, oats, peanuts, dry peas,
rapeseed, long grain rice, medium grain rice (which includes
short grain and sweet rice), safflower seed, sesame, soybeans,
sunflower seed and wheat. Upland cotton is no longer a covered
commodity.
For more information please contact your local FSA office
https://offices.usda.gov.
Direct Loan Program
FSA offers direct farm ownership and direct farm operating loans
to eligible farm loan applicants who want to establish, maintain
or strengthen their farm or ranch, and can demonstrate
satisfactory repayment and security. FSA loan officers process,
approve and service direct loans.
Direct farm operating loans can be used to purchase livestock
and feed, farm equipment, fuel, farm chemicals, insurance and
other costs including family living expenses. Operating loans
can also be used to finance minor improvements or repairs to
buildings and to refinance some farm-related debts, excluding
real estate.
Direct farm ownership loans can be used to purchase farmland,
enlarge an existing farm, construct and repair buildings, and to
make farm improvements.
The maximum loan amount for both direct farm ownership and
operating loans is $300,000 and a down payment is generally not
required. Repayment terms vary depending on the type of loan,
collateral and the producer's ability to repay the loan.
Operating loans are normally repaid within seven years and farm
ownership loans are not to exceed 40 years.
Please contact your local FSA office for more information on how
to apply for a direct farm ownership or operating loan. The
following web link also provides information on FSA farm loan
programs and eligibility requirements.
http://www.fsa.usda.gov/programs-and-services/farm-loan-programs/index
Guaranteed Loan Program
FSA guaranteed loans allow lenders to provide agricultural
credit to farmers who do not meet the lender's normal
underwriting criteria. Farmers and ranchers apply for a
guaranteed loan through a lender, and the lender arranges for
the guarantee. FSA can guarantee up to 95 percent of the loss of
principal and interest on a loan. Guaranteed loans can be used
for both farm ownership and operating purposes.
Guaranteed farm ownership loans can be used to purchase
farmland, construct or repair buildings, develop farmland to
promote soil and water conservation or to refinance debt.
Guaranteed operating loans can be used to purchase livestock,
farm equipment, feed, seed, fuel, farm chemicals, insurance and
other operating expenses.
FSA can guarantee farm ownership and operating loans up to
$1,392,000. Repayment terms vary depending on the type of loan,
collateral and the producer's ability to repay the loan.
Operating loans are normally repaid within seven years and farm
ownership loans are not to exceed 40 years.
Please contact your lender or local FSA farm loan office for
more information on guaranteed loans. The following web link
also provides information on FSA farm loan programs and
eligibility requirements.
http://www.fsa.usda.gov/programs-and-services/farm-loan-programs/index
Important Dates to Remember
June 22 - August 28 - Sign up for September 30, 2015 Expiring
CRP contract 1 year extension
September 30 - Final Date to Sign 2014 and 2015 ARC or PLC
contracts
September 30 - Final Date to Enroll in MPP - Dairy for 2016
Coverage
USDA Announces Conservation Incentives for Working Grass,
Range and Pasture Lands
Beginning Sept. 1, farmers and ranchers can apply for financial
assistance to help conserve working grasslands, rangeland and
pastureland while maintaining the areas as livestock grazing
lands.
The initiative is part of the voluntary Conservation Reserve
Program (CRP), a federally funded program that for 30 years has
assisted agricultural producers with the cost of restoring,
enhancing and protecting certain grasses, shrubs and trees to
improve water quality, prevent soil erosion and reduce loss of
wildlife habitat. In return, the U.S. Department of Agriculture
(USDA) provides participants with rental payments and cost-share
assistance. CRP has helped farmers and ranchers prevent more
than 8 billion tons of soil from eroding, reduce nitrogen and
phosphorous runoff relative to cropland by 95 and 85 percent
respectively, and even sequester 43 million tons of greenhouse
gases annually, equal to taking 8 million cars off the road.
[to top of second column] |
The CRP-Grasslands initiative will provide participants who
establish long-term, resource-conserving covers with annual
rental payments up to 75 percent of the grazing value of the
land. Cost-share assistance also is available for up to 50
percent of the covers and other practices, such as cross fencing
to support rotational grazing or improving pasture cover to
benefit pollinators or other wildlife. Participants may still
conduct common grazing practices, produce hay, mow, or harvest
for seed production, conduct fire rehabilitation, and construct
firebreaks and fences.
With the publication of the CRP regulation today, the Farm
Service Agency will accept applications on an ongoing basis
beginning Sept. 1, 2015, with those applications scored against
published ranking criteria, and approved based on the
competiveness of the offer. The ranking period will occur at
least once per year and be announced at least 30 days prior to
its start. The end of the first ranking period will be Nov. 20,
2015.
To learn more about participating in CRP-Grasslands or SAFE,
visit www.fsa.usda.gov/crp or consult with the local Farm
Service Agency county office. To locate a nearby Farm Service
Agency office, visit http://offices.usda.gov. To learn more
about the 30th anniversary of CRP, visit www.fsa.usda.gov/CRPis30
or follow on Twitter using #CRPis30.
Reporting Organic Crops
Producers who want to use the Noninsured Crop Disaster
Assistance Program (NAP) organic price and selected the
"organic" option on their NAP application must report their
crops as organic.
When certifying organic acres, the buffer zone acreage must be
included in the organic acreage.
Producers must also provide a current organic plan, organic
certificate or documentation from a certifying agent indicating
an organic plan is in effect. Documentation must include:
- name of certified individuals
- address
- telephone number
- effective date of certification
- certificate number
- list of commodities certified
- name and address of certifying agent
- a map showing the specific location of each field of
certified organic, including the buffer zone acreage
Certification exemptions are available for producers whose
annual gross agricultural income from organic sales totals
$5,000 or less. Although exempt growers are not required to
provide a written certificate, they are still required to
provide a map showing the specific location of each field of
certified organic, transitional and buffer zone acreage.
For questions about reporting organic crops, contact your local
FSA office. To find your local office, visit http://offices.usda.gov.
NAP Deadline Approaching for 2016 Crops
Noninsured Crop Disaster Assistance Program (NAP) applications
are due at different times,depending on the crop being insured.
August 31, 2015 is the 2016 NAP application closing date for
canola
September 1, 2015 is the 2016 NAP application closing date for
value loss crops, such as,aquaculture, Christmas trees,
ornamental nursery, and turfgrass sod
September 30, 2015 is the 2016 NAP application closing date for
mechanically harvested forage, grazed forage, and fall seeded
small grains.
November 20, 2015 is the 2016 NAP application closing date for
bi-annual and perennial crops, such as apples, asparagus,
blueberries, caneberries, cherries, grapes, hops, nectarines,
peaches, pears, plums, rhubarb, and strawberries.
December 1, 2015 is the 2016 NAP application closing date for
honey
March 15, 2016 is the 2016 NAP application closing date for
spring and summer planted NAP crops
May 1, 2016 is the 2017 NAP application closing date for nursery
crops
Eligible producers can apply for 2016 NAP coverage at their
local FSA Office using form CCC-471, Application for Coverage.
The service fee for basic NAP coverage is the lesser of $250 per
crop or $750 per producer per administrative county, not to
exceed a total of $1,875 for a producer with farming interest in
multiple counties. Producers interested in buy-up coverage must
pay a premium, in addition to the service fee. The maximum
premium will be $6,563.
Producer meeting the definition of a socially disadvantaged
farmer or rancher, beginning farmer or rancher or limited
resource farmer or rancher will have service fees waived.
Producers meeting this definition that choose to purchase buy-up
coverage will also have service fees waived and the premium will
be capped at $3,282.
USDA is an equal opportunity
provider and employer. To file a complaint of discrimination,
write: USDA, Office of the Assistant Secretary for Civil Rights,
Office of Adjudication, 1400 Independence Ave., SW, Washington,
DC 20250-9410 or call (866) 632-9992 (Toll-free Customer
Service), (800) 877-8339 (Local or Federal relay), (866)
377-8642 (Relay voice users).
Illinois Farm Service Agency
3500 Wabash Ave
Springfield, IL 62711
www.fsa.usda.gov/il
State Committee:
Jill Appell - Chair
Brenda Hill - Member
Jerry Jimenez - Member
Joyce Matthews - Member
Gordon Stine - Member
State Executive Director:
Scherrie V. Giamanco
Executive Officer:
Rick Graden
Administrative Officer:
Dan Puccetti
Division Chiefs:
Doug Bailey
Jeff Koch
Stan Wilson
Please contact your local FSA Office for questions specific to
your operation or county. |
