Agriculture Notes

AGRICULTURE NOTES

September 04, 2005

USDA unveils process for loan deficiency

The U.S. Department of Agriculture's Farm Service Agency has unveiled a streamlined process expected to make it easier for agricultural producers to receive loan deficiency payments.

With the new application process, producers can fill out a CCC-633 EZ form annually to receive loan deficiency benefits for eligible crops on all their farms. A second page will be submitted when the producer requests the payments.

A producer must have beneficial interest in the commodity at the time the form is submitted to the farm agency office. Beneficial interest in the commodity is kept if all of the following remain with the producer: control of the commodity, risk of loss, and title to the commodity.

The payments are obtained by producers who are eligible to obtain marketing assistance loans but who agree to forgo the loans.

The CCC-633 EZ is available online at www.fsa.usda.gov/dafp/psd.

Information: 410-848-2780.

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