Now is time to request loan deficiency payment
Corn silage harvest is now in full swing. Producers are being reminded that to qualify for loan deficiency payment benefits, production must not have been fed or sold. The best thing to do is to request benefits on a specific number of acres early on in the harvest. That way, some production can be fed immediately and remain eligible.
Payment rates are based upon the posted county price; which changes daily. The minimum price for Butler County is $2.14. When the market price falls below $2.14, LDPs are available.
Producers may file multiple requests. The advantage in this is different rates. If a farmer has 20 acres, he may elect four different requests of 5 acres each. The same concept can be applied to grain. Total production of 5,000 bushels could be five requests of 1,000 bushels each.
Farmers who are selling production direct from the field are being reminded that signatures must be on form CCC-709 before harvest begins. Forms can be mailed or faxed for convenience. Weigh tickets, proof of payment, and other receipts can be provided at a later date. To summarize and simplify the process, producers can either:
Sign form CCC-709 before harvest if selling or feeding direct from the field
Sign form CCC-666LDP prior to feeding or selling farm-stored production.
For those producers that have fed or sold production, any remaining quantity would still qualify. For example, 1,500 bushels of barley, out of 2,000, were fed or sold prior to signing form CCC-666LDP. The remaining 500 bushels would still be eligible.
Call the office at 724-482-4800 for more information.
Once again, crops are experiencing weather-related problems. At this time, there is no disaster program to cover 2004 losses. However, if your insured crops sustain a weather-related yield reduction, contact your insurance company within 15 days of the loss. If you have Non-Insured Assistance coverage, contact our office within 15 days of the loss. We will have a loss adjuster inspect, appraise and measure the crop.
