From the Directors Desk
I hope this finds you outside! Finally some sunshine and warm weather. All chatter has been on the weather and continuous rain we have had. The final plant date for corn and soybeans is June 10th and the last day to report prevented planted acres to the FSA office is June 25th. If you have crop insurance be sure to contact your agent at your earliest convenience if you suspect a loss.
Mark your calendars!
On June 18th, the Madison County and Chenango County FSA staff and Cornell Cooperative Extension CNYDLFC team will be hosting a producer meeting to explain options for the new Dairy Margin Contract Program, and Dairy-RP and LGM risk management programs. The DMC program replaces the MPP-Dairy program. The meeting will be held at the 19 North Main Event Center in Sherburne from 11:00am to 2:00pm. Lunch will be served. Producers are asked to RSVP no later than June 14th to either the Madison County FSA office at (315) 824-9076, or the Chenango County FSA office at (607) 334-3231. Producers will have the option to enroll at the meeting.
On June 24th, the Madison County FSA office and the Madison County CCE office will host a second producer meeting for those who are unable to attend on June 18th. The meeting will be held at the CCE office in Morrisville from 11:00am to 2:00pm. Lunch will be served and producers are asked to RSVP to the Madison County FSA office at (315) 824-9076, no later than June 21st. Producers will also have enrollment options at this meeting.
One last item, FSA is cleaning up our producer record database. If you have any unreported changes of address, zip code, phone number, email address or an incorrect name or business name on file they need to be reported to our office. Changes in your farm operation, like the addition of a farm by lease or purchase, need to be reported to our office as well. Producers participating in FSA and NRCS programs are required to timely report changes in their farming operation to the County Committee in writing and update their CCC-902 Farm Operating Plan.
If you have any updates or corrections, please call your local FSA office to update your records.
You can find information on all FSA programs at www.fsa.usda.gov. If you have questions or concerns, don’t hesitate to give us a call.
Donna Purdy
County Executive Director
USDA Commodity Loans Available to Madison County Producers
U.S. Department of Agriculture Madison County Farm Service Agency reminds producers that Marketing Assistance Loans and Loan Deficiency Payments are available to help producers through periods of low market prices. The 2014 Farm Bill authorized MALs and LDPs for the 2014 to 2018 crop years. Deadline for 2018 crop year corn loans is May 31st.
MALs provide interim financing and allow producers to delay the sale of the commodity at harvest-time lows and wait until more favorable market conditions emerge. A producer who is eligible to obtain a loan, but agrees to forgo the loan, may obtain an LDP if such a payment is available.
MALs and LDPs provide financing and marketing assistance for wheat, feed grains, soybeans and other oilseeds, pulse crops, rice, peanuts, cotton, wool and honey. The Madison County FSA office is now accepting requests for 2018 MALs and LDPs for all eligible commodities after harvest.
Before MAL repayments and LDP disbursements can be made, producers must meet the requirements of actively engaged in farming, cash-rent tenant and member contribution. In order to meet eligibility requirements, producers must retain beneficial interest in the commodity, meaning they have control of the commodity or a title to the commodity, until the MAL is repaid or the Commodity Credit Corporation takes title to the commodity.
The 2014 Farm Bill also establishes payment limitations per individual or entity not to exceed $125,000 annually on certain commodities for the following program benefits: Agriculture Risk Coverage and Price Loss Coverage payments, Marketing Loan Gains and LDPs. These payment limitations do not apply to MAL disbursements.
Producers or legal entities whose total applicable three-year average adjusted gross income exceeds $900,000 are not eligible for Marketing Loan Gains and LDPs, but are eligible for MALs repaid at principal plus interest.
For more information, please visit your local FSA office or www.fsa.usda.gov. To find your local USDA service center, visit www.farmers.gov.
FSA Offers Joint Financing Option on Direct Farm Ownership Loans
The USDA Farm Service Agency’s Direct Farm Ownership loans are a resource to help farmers and ranchers become owner-operators of family farms, improve and expand current operations, increase agricultural productivity, and assist with land tenure to save farmland for future generations.
Depending on the applicant’s needs, there are three types of Direct Farm Ownership Loans: regular, down payment and joint financing. FSA also offers a Direct Farm Ownership Microloan option for smaller financial needs up to $50,000.
Joint financing allows FSA to provide more farmers and ranchers with access to capital. FSA lends up to 50 percent of the total amount financed. A commercial lender, a State program or the seller of the property being purchased, provides the balance of loan funds, with or without an FSA guarantee. The maximum loan amount for a Joint Financing loan is $300,000 and the repayment period for the loan is up to 40 years.
To be eligible, the operation must be an eligible farm enterprise. Farm Ownership loan funds cannot be used to finance nonfarm enterprises and all applicants must be able to meet general eligibility requirements. Loan applicants are also required to have participated in the business operations of a farm or ranch for at least three years out of the 10 years prior to the date the application is submitted. The applicant must show documentation that their participation in the business operation of the farm or ranch was not solely as a laborer.
For more information about FSA Loan programs, contact your local FSA office or visit www.fsa.usda.gov. To find your local FSA office, visit http://offices.usda.gov.
FSA Offers Joint Financing Option on Direct Farm Ownership Loans
The USDA Farm Service Agency’s Direct Farm Ownership loans are a resource to help farmers and ranchers become owner-operators of family farms, improve and expand current operations, increase agricultural productivity, and assist with land tenure to save farmland for future generations.
Depending on the applicant’s needs, there are three types of Direct Farm Ownership Loans: regular, down payment and joint financing. FSA also offers a Direct Farm Ownership Microloan option for smaller financial needs up to $50,000.
Joint financing allows FSA to provide more farmers and ranchers with access to capital. FSA lends up to 50 percent of the total amount financed. A commercial lender, a State program or the seller of the property being purchased, provides the balance of loan funds, with or without an FSA guarantee. The maximum loan amount for a Joint Financing loan is $300,000 and the repayment period for the loan is up to 40 years.
To be eligible, the operation must be an eligible farm enterprise. Farm Ownership loan funds cannot be used to finance nonfarm enterprises and all applicants must be able to meet general eligibility requirements. Loan applicants are also required to have participated in the business operations of a farm or ranch for at least three years out of the 10 years prior to the date the application is submitted. The applicant must show documentation that their participation in the business operation of the farm or ranch was not solely as a laborer.
For more information about FSA Loan programs, contact your local FSA office or visit www.fsa.usda.gov. To find your local FSA office, visit http://offices.usda.gov.