Interim Financing Available for Producers During Harvest Time
Monday, September 14th, 2015 -- 9:28 AM
(Wisconsin Ag Connection) -The acting director of the Wisconsin Farm Service Agency is letting producers know that the USDA is offering 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.Warren Hanson says the programs, known as Marketing Assistance Loans and Loan Deficiency Payments, were authorized by the 2014 farm bill for the 2014-2018 crop years.
A producer who is eligible to obtain a marketing loan, but agrees to forgo the loan, may obtain a loan deficiency payment if such a payment is available. The programs provide financing and marketing assistance for wheat, feed grains, soybeans and other oilseeds, pulse crops, rice, peanuts, cotton, wool and honey. For eligibility, producers must control the commodity or a title to the commodity until the loan is repaid.
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