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08/30/2011 03:49 PM EDT
Contact your local FSA Office for details
Certify planted acreage for all crops and account for all cropland Have beneficial interest in the commodity Comply with Highly Erodible Land Conservation/Wetland Conservation Provisions (HELC/WC) Comply with Adjusted Gross Income Provisions Not owe a delinquent nontax federal debt – Once the debt is resolved, the producer is eligible to participate. Not violate controlled substance provisions
For a commodity to be eligible for a loan or LDP, the producer must have beneficial interest in the commodity. Beneficial interest means the producer has complete control and title to the commodity. Once beneficial interest is lost, the commodity is ineligible for loan and LDP, even if beneficial interest is regained. For loans, producers must maintain beneficial interest either through the date the commodity is redeemed from loan or Commodity Credit Corporation (CCC) takes title to the commodity. For LDPs, beneficial interest must be maintained through the date the CCC-633 EZ, Page 1 is signed or the date LDP is requested.
All commodities pledged for CCC loan must be free and clear of all liens, judgments, and other encumbrances. If not, lien waivers must be provided. Commodities pledged for CCC loan must be stored in approved on-farm storage or in State or Federally approved warehouses willing to store the commodity for the loan period and issue a warehouse receipt.
LDPs are payments made to producers who, although eligible to obtain a CCC loan, agree to forgo the loan in return for a payment on the eligible quantity. They are only available when the "CCC-determined value" falls below the loan rate for the commodity.
There is no payment limitation for market gains or LDPs for 2011.
Producers with outstanding Commodity Credit Corporation (CCC) loans, whether farm-stored or warehouse-stored, may "lock-in" the repayment rate by completing Form CCC-697. The locking-in of the repayment rate is allowed for all commodities except cotton. Also, for warehouse stored loans, the request to lock-in the repayment rate must cover entire warehouse receipt quantities.
The final date to request a loan or LDP for 2011 crop commodities commonly produced in Louisiana is as follows:
Cotton, Rice, Soybeans, Corn, Grain Sorghum, Sunflowers May 31, 2012 Sugar (loan only) October 1, 2012 Wheat, Oats, Honey April 2, 2012 Peanuts, Wool, Mohair, Unshorn Pelts (LDP only) January 31, 2012
2011 General Loan/LDP Provisions Louisiana Fact Sheet (8-30-11)
Marketing assistance loans and loan deficiency payments (LDPs) are authorized for the 2011 crop year. Commodities eligible for loan or LDP, whether or not they are produced on a participating or nonparticipating farm are:
| Wheat | Oats | Peanuts | Lentils |
| Rice | Corn | Honey | Small Chickpeas |
| Soybeans | Grain Sorghum | ELS Cotton | Barley |
| Cotton | Wool | Dry Peas | Sunflowers and Other Oilseeds |
Hay and silage derived from the above commodities and unshorn pelts are eligible for LDP, but not for marketing assistance loan. Sugar is eligible for a regular loan, but is not for market gain or LDP. In addition, producers who graze wheat, oats, barley, and triticale are eligible for an LDP-like Graze-Out payment, if the crop is grazed out by livestock and not mechanically harvested. Graze-Out payments only apply at times when an LDP is available on the applicable commodity.
To be eligible for loans and LDPs, producers must:
Certify planted acreage for all crops and account for all cropland Have beneficial interest in the commodity Comply with Highly Erodible Land Conservation/Wetland Conservation Provisions (HELC/WC) Comply with Adjusted Gross Income Provisions Not owe a delinquent nontax federal debt – Once the debt is resolved, the producer is eligible to participate. Not violate controlled substance provisions
States, local government, political subdivisions, and agencies thereof, are no longer eligible to receive loans or LDPs. (For example, school boards, levee boards, universities and prisons are not eligible.)
Beneficial Interest Requirement
For a commodity to be eligible for a loan or LDP, the producer must have beneficial interest in the commodity. Beneficial interest means the producer has complete control and title to the commodity. Once beneficial interest is lost, the commodity is ineligible for loan and LDP, even if beneficial interest is regained. For loans, producers must maintain beneficial interest either through the date the commodity is redeemed from loan or Commodity Credit Corporation (CCC) takes title to the commodity. For LDPs, beneficial interest must be maintained through the date the CCC-633 EZ, Page 1 is signed or the date LDP is requested.
All producers and landowners who share in the proceeds of the crop are encouraged to sign Form CCC 633 EZ, Page 1 prior to harvest. Signing of this form prior to harvest protects a producer or landowner if loan or loan deficiency payment (LDP) benefits are not requested prior to loss of beneficial interest. Signing of the form does not take away any option that is available to request a commodity loan or an LDP.
Loans
All commodities pledged for CCC loan must be free and clear of all liens, judgments, and other encumbrances. If not, lien waivers must be provided. Commodities pledged for CCC loan must be stored in approved on-farm storage or in State or Federally approved warehouses willing to store the commodity for the loan period and issue a warehouse receipt.
Producers are responsible for maintaining the storability and quality of commodities stored on the farm. Additionally, producers MUST request an authorization from FSA PRIOR to MOVING, delivering to buyers, selling, or feeding commodities mortgaged to CCC. Severe penalties apply for non-compliance with this requirement.
Loan rates and interest rates are available upon request at any Parish FSA Office or on the internet at http://www.fsa.usda.gov/FSA/webapp?area=home&subject=prsu&topic=lor. The loan and LDP rate for commodities grown on farms enrolled in the ACRE program will be reduced by 30%.
Loan Deficiency Payments (LDPs)
LDPs are payments made to producers who, although eligible to obtain a CCC loan, agree to forgo the loan in return for a payment on the eligible quantity. They are only available when the "CCC-determined value" falls below the loan rate for the commodity.
Payment Limitation
There is no payment limitation for market gains or LDPs for 2011.
Locking In Repayment Rates
Producers with outstanding Commodity Credit Corporation (CCC) loans, whether farm-stored or warehouse-stored, may "lock-in" the repayment rate by completing Form CCC-697. The locking-in of the repayment rate is allowed for all commodities except cotton. Also, for warehouse stored loans, the request to lock-in the repayment rate must cover entire warehouse receipt quantities.
The CCC-697 (lock-in) expires the earlier of 60 days after it is executed, or 14 days before the loan matures. Specific quantities of a commodity can be "locked-in" only once. For specific quantities locked-in and not repaid during the lock-in period, the repayment rate for that specific quantity cannot be locked-in again. The repayment rate will be based on the date funds are received to repay the loan.
Final Availability Dates
The final date to request a loan or LDP for 2011 crop commodities commonly produced in Louisiana is as follows:
Cotton, Rice, Soybeans, Corn, Grain Sorghum, Sunflowers May 31, 2012 Sugar (loan only) October 1, 2012 Wheat, Oats, Honey April 2, 2012 Peanuts, Wool, Mohair, Unshorn Pelts (LDP only) January 31, 2012
The United States Department of Agriculture (USDA) prohibits discrimination in all of its programs and activities on the basis of race, color, national origin, age, disability, and where applicable, sex, marital status, familial status, parental status, religion, sexual orientation, political beliefs, genetic information, reprisal, or because all or part of an individual's income is derived from any public assistance program. (Not all prohibited bases apply to all programs.) Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape, etc.) should contact USDA's Target Center at 202-720-2600 (voice and TDD).
To file a complaint of discrimination, write to USDA, Assistant Secretary for Civil Rights, Office of the Assistant Secretary for Civil Rights,1400 Independence Avenue, S.W., STOP 9410, Washington, DC 20250-9410 or call toll-free at 866-632-9992 (English) or 800-877-8339 (TDD) or 866-377-8642 (English Federal-relay) or 800-845-6136 (Spanish Federal-relay). USDA is an equal opportunity provider and employer.
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