John R Whitaker, State Executive Director
(515) 254 1540, Ext. 1000
DCP/ACRE and SURE Enrollment Deadline Approaching.
Des Moines, Iowa, April 26, 2012: John R. Whitaker, State Executive Director of USDA’s Iowa Farm Service Agency (FSA) reminds producers that June 1, 2012, is the deadline for enrolling in the 2012 the Direct and Counter-cyclical Program (DCP), Average Crop Revenue Election (ACRE) Program and the Supplemental Revenue Assistance Program (SURE). This is a statutory deadline for all participants in these programs.
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“It is critical for producers to begin and/or complete the enrollment process if they have not already done so,” said Whitaker. “A significant number of farms eligible for the 2012 DCP/ACRE programs have not enrolled and these producers need to be aware of this deadline.”
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All signatures of producers receiving a share in DCP/ACRE payments are required by the June 1, 2012, deadline. The election for ACRE for 2012 can be made any time before June 1, 2012. If a farm has an ACRE election from a prior year, the farm remains in the ACRE, however producers must still complete the annual enrollment process by the June 1 deadline.
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Whitaker stated, “It is important producers contact their local office to set up appointments well before this deadline to ensure all required signatures and documents have been obtained for DCP/ACRE, as well as for the SURE program.”
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The Supplemental Revenue Assistance Program (SURE) which provides benefits for farm revenue losses also has a June 1, 2012 deadline. Losses due to natural disasters that occurred during the 2010 crop year may be eligible for this sign up. SURE is available to eligible producers on:
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Farms in counties with Secretarial disaster declarations, including contiguous counties, that have incurred crop production or quality losses of at least 10%, or both, and includes all crops grown by a producer nationwide, except grazed crops.
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Any farm in which, for the crop year, the actual production on the farm because of disaster-related conditions is 50 percent or less than normal production of the farm.
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For more information about the DCP/ACRE programs please visit your local FSA county office or visit http://www.fsa.usda.gov.
Greg Biba
608.662.4422 x118
Greg.biba@wi.usda.gov
Cally Ehle
608.662.4422 x141
Cally.ehle@wi.usda.gov
FOR IMMEDIATE RELEASE
2011 Corn and Soybean FSA Marketing Assistance Loan Application Deadline Approaching
(MADISON, WISCONSIN), April 26, 2012 – Producers interested in a Farm Service Agency Marketing Assistance Loan (MAL) are reminded that May 31, 2012, is the deadline to put 2011 crop corn and soybeans under a 9-month loan.
A MAL is available to producers who share in the risk of producing a crop. To be eligible, a producer must maintain continual beneficial interest in the crop from harvest through the earlier of the date the loan is repaid or Commodity Credit Corporation (CCC) takes title of the commodity.
In addition, commodity loan eligibility requires compliance with conservation and wetland protection requirements; beneficial interest requirements, acreage reporting and ensuring that the commodity meets CCC minimum grade and quality standards. The quality of the commodity in farm storage must be maintained throughout the term of the loan.
Violating provisions of a marketing assistance loan may trigger administrative actions, such as assessing liquidated damages, calling the loan and denial of future farm-stored loans.
WASHINGTON, April 26, 2012— USDA Farm Service Agency (FSA) Administrator Bruce Nelson today announced that USDA’s Commodity Credit Corporation (CCC) and the state of Arkansas entered into a revised agreement to add additional incentives to the Conservation Reserve Enhancement Program (CREP). The Illinois River Watershed CREP, as it is more commonly known, was created to reduce nutrient, bacterial and sediment load in the Illinois River Watersheds.
“USDA is proud to work with the state of Arkansas to enroll up to 10,000 acres of eligible cropland and marginal pastureland to enhance the water quality, biological diversity and aquatic habitats of the Illinois River Watersheds,” said Nelson.
The agreement establishes riparian buffers and filter strips on marginal pastureland and cropland with a goal of reducing 85,000 tons of annual sediment loading into local streams and waterways.
Farmers and ranchers will be able to apply for this program at their Farm Service Agency (FSA) Service Centers. FSA will administer the Illinois River Watershed CREP on behalf of CCC, working with USDA’s Natural Resources Conservation Service (NRCS), the state of Arkansas’ Natural Resources Commission (ANRC), and with other state CREP partners.
The primary objectives of this agreement are to conserve, restore and protect water quality and other natural resources within the targeted area through the installation and maintenance of riparian buffers. The program will provide producers financial and technical assistance to protect water resources and curb development by entering into permanent or long-term easement agreements.
Revisions to the Agreement
Under the addendum to the Illinois River Watershed CREP in Arkansas, the following additional provisions were made:
Enrollment revised to 10,000 acres. Riparian buffers (Cropland and Marginal Pastureland) , CP-22 – up to 6,700 acres and Marginal Pastureland Wildlife Habitat Buffers, CP-29 – up to 3,300 acres. Maximum average buffer widths may include areas exceeding 300 feet, if overland out-of-bank flow shows evidence of scour erosion, sediment deposition or debris deposits. Federal incentive payments are increased to 100 percent of base cropland soil rental rate or marginal pastureland rental rate. The state will make a one-time, lump-sum payment of $400 per acre on the first 1,000 acres enrolled in the Illinois River Watershed CREP. After the first 1,000 acres are enrolled, the state will make a one-time, lump-sum payment of $200 per acre for acres enrolled in the Illinois River Watershed CREP.
The CCC will pay up to 50 percent of the cost of installing conservation practices. CCC will also pay a 40 percent one-time Practice Incentive Payment of the total eligible cost of practice installation. Conservation practices for the Illinois River Watershed CREP are specialized to meet Arkansas’ unique natural resource conditions, and CREP goals. Federal annual rental payments are provided based on the cropland or marginal pastureland rental rates. Additionally, a CCC signing incentive payment equal to $100 per acre for 10 years will be paid.
The state of Arkansas will provide a one-time total of $400 per acre signing incentive payment on the first 1,000 acres enrolled in the Illinois River Watershed CREP project. After the first 1,000 acres have been enrolled, the state of Arkansas will provide a one-time $200 per acre signing incentive payment for participation in the CREP project. The state will allow eligible participants to utilize a riparian and wetland restoration state tax credit for out-of-pocket costs incurred as part of the CREP practice installation. CREP participants also will be provided, on a voluntary basis, an opportunity to enroll federal contract acres in a state permanent or long-term easement.
The total cost of the Illinois River Watershed CREP Program Agreement over the life of the project is estimated at $21.1 million for a total enrollment of 10,000 acres. The state of Arkansas will contribute $5.7 million to support the overall program cost.
Public Affairs Staff
Room 308
200 4th St SW Fed Bldg
Huron, SD 57350
For immediate release
FSA Crop Certification Deadline is July 15th
HURON, SD, April 27, 2012 — USDA Farm Service Agency (FSA) State Executive Director Craig Schaunaman, reminds producers that the annual crop certification deadline is July 15, 2012.
Producers who file accurate and timely reports for all crops and land uses, including prevented planted and failed acreage can prevent the potential loss of FSA program benefits.
“I encourage all producers to contact their local FSA office to make an appointment to file their annual acreage report by the July 15th deadline in order to comply with FSA program eligibility requirements,” said Schaunaman.
South Dakota FSA offices no longer mail appointment cards and maps to producers for acreage reporting purposes. Producers are responsible for contacting their local FSA office to set up an appointment to file their 2012 acreage report. Hard copy maps will be provided to the producer at the time the acreage report is filed. Producers wishing to obtain digital color copies of their respective maps are encouraged to provide their e-mail address or a new jump drive to their local FSA office to facilitate the request for digital maps.
Producers are also reminded to report crop losses insured through Federal Crop Insurance and the Noninsured Crop Disaster Assistance Program (NAP) within 15 days of the disaster or as soon as the loss is apparent.
Susan Butler
608.662.4422 x114
Susan.butler@wi.usda.gov
Cally Ehle
608.662.4422 x141
Cally.ehle@wi.usda.gov
FOR IMMEDIATE RELEASE
FSA Reminds CRP Participants of Primary Nesting Season Requirements
(MADISON, WISCONSIN), April 30, 2012 – The Farm Service Agency (FSA) reminds Conservation Reserve Program (CRP) participants that maintenance and management activities on CRP acres must be completed outside of the primary nesting season, which begins May 15, 2012, and continues through the date listed in individual conservation plans.
“CRP participants must not engage in any CRP maintenance or management activities during the primary nesting season that is listed in your current conservation plan,” said Brad Pfaff, state executive director.
Participants with maintenance issues that require attention prior to the end of nesting season must contact the county FSA office for permission prior to performing any spot spraying or spot mowing on CRP acres.
Failure to contact the county FSA office prior to any maintenance on CRP acres during nesting season may result in payment reductions or possible contract termination.
WASHINGTON, May 1, 2012 — The U.S. Department of Agriculture’s Commodity Credit Corporation (CCC) today announced interest rates for May 2012. The CCC borrowing rate-based charge for May 2012 is 0.125 percent, unchanged from 0.125 in April 2012. For 1996 and subsequent crop year commodity and marketing assistance loans, the interest rate for loans disbursed during May 2012 is 1.125 percent, unchanged from 1.125 in April 2012.
In accordance with the 2008 Farm Bill, interest rates for Farm Storage Facility Loans approved for May 2012 are as follows, 1.500 percent with seven-year loan terms, unchanged from 1.500 in April 2012; 2.125 percent with 10-year loan terms, unchanged from 2.125 in April 2012 and; 2.375 percent with 12-year loan terms, unchanged from 2.375 percent in April 2012. The interest rate for Sugar Storage Facility Loans for May 2012 is 2.625 percent, unchanged from 2.625 in April 2012.
The maximum discount rate applicable for May 2012 for the Tobacco Transition Payment Program is 5 percent, unchanged from April 2012. This is based on the 3.250 percent prime rate plus 2 percent, rounded to the nearest whole number.
Past monthly releases announcing interest rates charged by CCC on commodity and marketing assistance loans disbursed for that particular month reflect the interest rate the U.S. Treasury charged CCC for that month. This was the interest rate specified by CCC since Jan. 1, 1982, but the process of establishing the interest rate was changed by a provision of the Federal Agriculture Improvement and Reform Act of 1996 (the Act), enacted on April 4, 1996.
Section 163 of the Act requires that monthly interest rates applicable to commodity and marketing assistance loans are to be 100 basis points — or 1 percent — greater than the rate determined under the applicable interest rate formula in effect on Oct. 1, 1995. This formula resulted in a rate equivalent to the amount the U.S. Treasury charged CCC for borrowing, for the month.
PO Box 2900
College Station, Texas – 77841
http://www.fsa.usda.gov/tx
Farm Service Agency Schedules 12 Guaranteed Loan Program Webinars for Lenders
(COLLEGE STATION, Texas) – April 30, 2012– USDA Texas Farm Service Agency (FSA) Farm Loan Chief Eddie Trevino announced that 12 guaranteed loan program-lender webinars will be held from May through December.
The guaranteed loan program allows FSA to form a partnership with lenders to ensure that agricultural producers have an affordable and reliable source of credit available. When making guaranteed loans, FSA guarantees the loan up to 95% of the loss of principal and interest. This loan program allows banks to keep their long-term agricultural customers as well as form relationships with new producers who do not qualify for traditional commercial loans.
“The guaranteed loan program is a good way for banks to continue extending credit to viable agricultural producers while mitigating their risks,” said Trevino.
Webinars will be offered monthly at no cost to the participants and will last no longer than two hours. The first webinar is scheduled for May 30, 2012, at 1:30 p.m.
May 01, 2012
U.S. Department of Agriculture, Florida/Virgin Islands Farm Service Agency
PO Box 141030
Gainesville, Florida 32614-1030
http://www.fsa.usda.gov/fl
USDA Announces Commodity Credit Corporation Lending Rates for May 2012
WASHINGTON, May 1, 2012 — The U.S. Department of Agriculture’s Commodity Credit Corporation (CCC) today announced interest rates for May 2012. The CCC borrowing rate-based charge for May 2012 is 0.125 percent, unchanged from 0.125 in April 2012. For 1996 and subsequent crop year commodity and marketing assistance loans, the interest rate for loans disbursed during May 2012 is 1.125 percent, unchanged from 1.125 in April 2012.
In accordance with the 2008 Farm Bill, interest rates for Farm Storage Facility Loans approved for May 2012 are as follows, 1.500 percent with seven-year loan terms, unchanged from 1.500 in April 2012; 2.125 percent with 10-year loan terms, unchanged from 2.125 in April 2012 and; 2.375 percent with 12-year loan terms, unchanged from 2.375 percent in April 2012. The interest rate for Sugar Storage Facility Loans for May 2012 is 2.625 percent, unchanged from 2.625 in April 2012.
The maximum discount rate applicable for May 2012 for the Tobacco Transition Payment Program is 5 percent, unchanged from April 2012. This is based on the 3.250 percent prime rate plus 2 percent, rounded to the nearest whole number.
Past monthly releases announcing interest rates charged by CCC on commodity and marketing assistance loans disbursed for that particular month reflect the interest rate the U.S. Treasury charged CCC for that month. This was the interest rate specified by CCC since Jan. 1, 1982, but the process of establishing the interest rate was changed by a provision of the Federal Agriculture Improvement and Reform Act of 1996 (the Act), enacted on April 4, 1996.
Section 163 of the Act requires that monthly interest rates applicable to commodity and marketing assistance loans are to be 100 basis points — or 1 percent — greater than the rate determined under the applicable interest rate formula in effect on Oct. 1, 1995. This formula resulted in a rate equivalent to the amount the U.S. Treasury charged CCC for borrowing, for the month.
May 01, 2012
U.S. Department of Agriculture, Florida/Virgin Islands Farm Service Agency
PO Box 141030
Gainesville, Florida 32614-1030
http://www.fsa.usda.gov/vi
USDA Announces Commodity Credit Corporation Lending Rates for May 2012
WASHINGTON, May 1, 2012 — The U.S. Department of Agriculture’s Commodity Credit Corporation (CCC) today announced interest rates for May 2012. The CCC borrowing rate-based charge for May 2012 is 0.125 percent, unchanged from 0.125 in April 2012. For 1996 and subsequent crop year commodity and marketing assistance loans, the interest rate for loans disbursed during May 2012 is 1.125 percent, unchanged from 1.125 in April 2012.
In accordance with the 2008 Farm Bill, interest rates for Farm Storage Facility Loans approved for May 2012 are as follows, 1.500 percent with seven-year loan terms, unchanged from 1.500 in April 2012; 2.125 percent with 10-year loan terms, unchanged from 2.125 in April 2012 and; 2.375 percent with 12-year loan terms, unchanged from 2.375 percent in April 2012. The interest rate for Sugar Storage Facility Loans for May 2012 is 2.625 percent, unchanged from 2.625 in April 2012.
The maximum discount rate applicable for May 2012 for the Tobacco Transition Payment Program is 5 percent, unchanged from April 2012. This is based on the 3.250 percent prime rate plus 2 percent, rounded to the nearest whole number.
Past monthly releases announcing interest rates charged by CCC on commodity and marketing assistance loans disbursed for that particular month reflect the interest rate the U.S. Treasury charged CCC for that month. This was the interest rate specified by CCC since Jan. 1, 1982, but the process of establishing the interest rate was changed by a provision of the Federal Agriculture Improvement and Reform Act of 1996 (the Act), enacted on April 4, 1996.
Section 163 of the Act requires that monthly interest rates applicable to commodity and marketing assistance loans are to be 100 basis points — or 1 percent — greater than the rate determined under the applicable interest rate formula in effect on Oct. 1, 1995. This formula resulted in a rate equivalent to the amount the U.S. Treasury charged CCC for borrowing, for the month.
Public Affairs Staff
Room 308
200 4th St SW Fed Bldg
Huron, SD 57350
For immediate release
USDA Offers Farm Loans for Socially Disadvantaged Producers
HURON, SD, May 1, 2012 — USDA Farm Service Agency (FSA) State Executive Director Craig Schaunaman reminds producers that FSA offers specially-targeted farm ownership and farm operating loans to Socially Disadvantaged (SDA) applicants.
“FSA targets a portion of its annual loan funds for socially disadvantaged farmers and ranchers,” said Schaunaman. “Farming and ranching is a capital intensive business and FSA is committed to helping producers start and maintain their agricultural operations.”
In fiscal year 2011, South Dakota FSA dispersed $12.4 million in farm loans to socially disadvantaged producers.
USDA defines socially disadvantaged applicants as a group whose members have been subjected to racial, ethnic, or gender prejudice because of their identity as members of the group without regard to their individual qualities. For farm loan program purposes, SDA groups are women, African Americans, American Indians and Alaskan Natives, Hispanics and Asians and Pacific Islanders.
SDA producers who cannot obtain commercial credit from a bank can apply for either FSA direct loans or guaranteed loans. Direct loans are made to applicants by FSA. Guaranteed loans are made by lending institutions who arrange for FSA to guarantee the loan. FSA can guarantee up to 95 percent of the loss of principal and interest on a loan. The FSA guarantee allows lenders to make agricultural credit available to producers who do not meet the lender’s normal underwriting criteria.
The direct and guaranteed loan program offers two types of loans: farm ownership loans and farm operating loans.
Farm ownership loan funds may be used to purchase or enlarge a farm or ranch, purchase easements or rights of way needed in the farm’s operation, build or improve buildings such as a dwelling or barn, promote soil and water conservation and development and pay closing costs.
Farm operating loan funds may be used to purchase livestock, poultry, farm equipment, fertilizer, and other materials necessary to operate a successful farm. Operating Loan funds can also be used for family living expenses, refinancing debts under certain conditions, paying salaries for hired farm laborers, installing or improving water systems for home, livestock, or irrigation use and other similar improvements.
Repayment terms for direct operating loans depend on the collateral securing the loan and usually run from one to seven years. Financing for direct farm ownership loans cannot exceed 40 years. Interest rates for direct loans are set periodically according to the Government’s cost of borrowing. Guaranteed loan terms and interest rates are set by the lender.
For more information on FSA’s farm loan programs, please contact your local FSA office or on the web at www.fsa.usda.gov.