Marketing loans: Put the grain in those bins to work

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grain bins

Hello Again, Friends:

As you drive along the countryside, it’s easy to see harvest is right in our midst. Feels like it’s just springtime, but as the leaves are changing to gold and red wonder — I guess I cannot help myself but to be thankful for the year we have had. Maybe the smell of the turkey in the oven will soon be a reminder, but we should be thankful every day for our families and our health. Nonetheless, with it beginning to get darker earlier, the main thing for everyone to remember is to stay safe.

Grain bins and running PTOs can be dangerous at any age, so take your time and make good decisions. While driving down the road this time of year, make sure you are looking for Slow Moving Vehicle signs and lights, especially at night.

Marketing loans

With the crop coming off and heading to the bin, we here at the Farm Service Agency know that sometimes cash flow can get tight around harvest because you want to store grain to get a higher price on that market. Come in to the FSA office and take a Market Assistance Loan out on your stored bushels in the bin.

A Marketing Assistance Loan is available for producers who share in the risk of producing an eligible commodity. To be eligible, a producer must maintain continual beneficial interest in the eligible commodity.

FSA offers MALs on honey, oilseeds and an assortment of grains, and other approved agricultural commodities. Commodity loan eligibility also requires compliance with conservation and wetland protection requirements; beneficial interest requirements, acreage reporting, and ensuring that the commodity meets Commodity Credit Corporation minimum grade and quality standards. Currently the November interest rate is 1.250%.

Just remember, you can certify what bushels are in the bin or request and pay for a measurement service. Lastly, remember you are responsible for that quantity as well as the quality of those bushels. Come on in and see what the FSA can do for you.

That’s all for now,
FSA Andy

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