Dan Steinkruger, Acting State Executive Director for USDA’s Farm Service Agency in Nebraska reminds producers of the March 31, 2009 deadline to apply for 2008 crop year commodity loans for wheat, oats, barley, canola, crambe, flaxseed, honey, oats, rapeseed, and sesame seed and the June 1, 2009 deadline to apply for 2008 crop year commodity loans and LDPs for corn, grain sorghum, soybeans, dry peas, lentils, mustard seed, safflower seed, chickpeas and sunflower seed.
Commodity loans provide producers interim financing to meet cash flow needs without having to sell their commodities. Producers must have beneficial interest in the commodity on the date of a loan or LDP request and must retain beneficial interest while the loan is outstanding. Producers must meet other eligibility requirements to be eligible for loans and LDPs.
The 2008 crop year commodity loan interest rate for loans disbursed during March 2009 is 1.500 percent, up from 1.375 percent in February 2009.
Contact your local FSA Office to request a loan or LDP.