Are specialty corn crops eligible for LDPs or marketing loans?
Specialty crops such as high-oil corn or white corn are eligible commodities. The farm must be enrolled in a 7-year USDA Production Flexibility Contract, and meet all other requirements. What if I harvested my 1998 silage earlier than September 11 – did I miss my chance for an LDP or loan? No. Those who lost beneficial interest prior to this date will be eligible for LDPs based on the rate in effect on the date of delivery or loss of beneficial interest. Some changes do not apply to warehouse-stored loans. (e.g., Aflatoxin-contaminated corn) (News Release No.0364.98) What if a farmer brings grain to town and will be delivering on both a harvest delivery contract (or spot sale) and for storage. Can the producer determine whether grain goes in storage first or on contract (or spot sale)? What do we need to know about this? This is very confusing, and has already resulted in one policy clarification from USDA. Follow this issue closely – USDA may announce more changes. Here s what we hear
