USDA’s Farm Service Agency (FSA) Administrator Juan M. Garcia announced today that the processing and disbursement of 2013 crop commodity loans has resumed. Crop year 2013 commodity loan-making was suspended Oct. 1, 2013, to make changes necessary to accommodate the automatic funding reductions known as sequester. Sequestration is mandated by the Balanced Budget and Emergency Deficit Control Act of 1985 as amended by the Budget Control Act of 2011.
“We must comply with the laws established by Congress to reduce funds in accordance with sequestration policy,” said Garcia. “We regret the delay this has created in USDA issuing marketing assistance loans because we know how critical the loans are to many farmers’ cash flow at this time of year.”
The commodity loan programs provide interim financing to producers for agricultural commodities stored after harvest and then sold throughout the year. Producers requesting 2013 crop commodity loans on their harvested commodities now will have a 5.1 percent reduction to the loan amount upon its disbursement, due to the sequestration. Commodity loans issued by marketing associations and loan servicing agents are also subject to the sequestration reduction.
During the period that loan-making was suspended, producers were still able to submit loan applications to their county FSA offices, marketing associations and loan servicing agents. The processing and disbursement of these applications will begin immediately.
For further information about commodity marketing loans, farmers may contact their local county FSA office or go online to www.fsa.usda.gov.
MOST VIEWED STORIES
Walnut Township recall coming; Friday mtg erupts in arrest
Former Kickapoo Tribal chairman arrested
Severe storms move through NE KS
Sabetha woman arrested in business burglary
Effingham teen facing child sex crimes charges
Winchester native named as Amberwell CEO
Holton property search concludes with arrest
Rural Horton man charged in alleged beating
Severe storms reported Tuesday in NE KS
Meriden man bound over on rape charge
KS prepares for severe weekend weather
Former AG Schmidt running for KS' 2nd Congressional District
Richardson County Deputies busy during special enforcement
Commission approves agreement for budget help
Atchison man nabbed for neighbor's 4 wheeler theft
Council hears report from golf course
Beef Barn replacement planned in Jefferson Co
NVCH receives $415,000 grant for expansion project
LATEST STORIES
Road, railway repairs, underway in Atchison this week
KS replacement plates see long wait times
Atchison man nabbed for neighbor's 4 wheeler theft
One injured in Holt County MO wreck
Field survey set in Brown Co at U.S 77/K-20 junction
Severe storms reported Tuesday in NE KS
Effingham teen facing child sex crimes charges
Pawnee County Rural Health Clinic participating in DHHS program
Local students participation in Peru State research expo
Meetings to help with Homestead Exemptions scheduled in Johnson County