ARC/PLC Payments - The USDA announced that 2016
Agriculture Risk Coverage - County (ARC-CO) and Price Loss
Coverage (PLC) program payments are eligible to be issued. For
Logan County, the following payment rates were earned:
2016 ARC-CO Payment Rates**:
Corn $9.77
Oats $26.45
Soybeans $0.00
Wheat $28.17
2016 PLC Payment Rates**:
Corn $0.34
Oats $0.34
Soybeans $0.00
Wheat $1.61
* PLC payment rates are multiplied by the PLC yield of each
applicable farm.
**Remember, these payment rates are multiplied by 85% of the
base acres on a farm for the crop. The ARC-CO and PLC payments
are also sequestered by 6.8% as well.
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Individual farm payments will vary depending on which program
was elected for each crop, the number of base acres attached to
the farm, the crop yield (for PLC), and the share for each
producer on the farm. Actual planted acres for the 2016 crop
year do not factor into the ARC or PLC program payments.
CRP Payments - Annual Conservation Reserve Program (CRP)
payments are being issued from our office as well! Our office is
currently working on processing the CRP payments for Logan
County. Please remember after you harvest crops, fall is a good
time to check on your CRP to ensure it is being maintained
according to the conservation plan of operations.
Our office will contact you if we need additional information to
process any of the payments. The payments are processed out of
Kansas City. Producers with direct deposit will likely receive
payment(s) before those receiving a check(s). The payment
statements will arrive in the mail, likely after you have
received your payment. If you have questions, after receiving
your statement, feel free to contact the office.
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USDA Commodity Loans Available to Logan County Producers
The Farm Service Agency (FSA) reminds producers that USDA/FSA
offers interim financing at harvest time to help producers meet
cash flow needs without having to sell commodities when market
prices are at harvest-time lows. The programs, known as
Marketing Assistance Loans (MALs) and Loan Deficiency Payments (LDPs),
were authorized by the 2014 Farm Bill for the 2014-2018 crop
years.
The programs provide financing and marketing assistance for
wheat, corn, and other feed grains, soybeans and other oilseeds,
pulse crops, wool and honey. For eligibility, producers must
control the commodity or a title to the commodity until the loan
is repaid.
The Commodity Loan Program and the Loan Deficiency Program serve
as an important financial marketing tool that provides the
producer with operating cash in order to hold their grain off
the market and benefit from future price increases.
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The loan program also provides a producer leverage in repaying
older operating loans financed with a higher commercial interest
rate. As an added “safety net”, when cash prices fall below the
loan rate for a specific commodity, the producer has the option
to repay the loan using the Posted County Price (PCP).
Commodity loans can be repaid anytime during the 9-month term
and before the loan matures using the lower of two methods: 1)
principal plus interest, or 2) using the Posted County Price
(PCP) which changes on a daily basis.
Please call the Logan County FSA Office for further details, or
for more information, please visit www.fsa.usda.gov/pricesupport.
Logan County Loan Rates:
Corn - $2.05
Soybeans - $5.14
Wheat - $2.75
October Interest Rate: 2.250%
Also, please remember, grain under loan cannot be moved without
prior authorization or repayment. Unauthorized removal, which
includes removal for cleaning for seed or planting, is a
violation and is subject to monetary and administrative
penalties. Call Before You Haul!
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Changing Bank Accounts
All FSA payments should be electronically transferred into your
bank account. In order to make timely payments, you need to
notify the office if you close your account or if your bank is
purchased by another financial institution. Payments can be
delayed if we are not aware of changes to account and routing
numbers.
Logan County FSA Office
1650 5th Street Road
Lincoln, IL 62656-9127
Phone: 217-735-5508
Fax: 855-693-7125
County Executive Director:
John Peters
Farm Loan Manager:
Tony Schmillen
Program Technicians:
Ann Curry
Tammy Edwards
Mari Anne Komnick
Chelsie Peddicord
County Committee:
Tim Sotherland - Chair
Dennis Ramlow - Member
Kenton Stoll - Member
Dorothy Gleason - Advisor
Next County Committee Meeting: TBD |