Marketing Loans Application Deadline Nears

Farmers have a few days left to apply for 2018 crop year marketing assistance loans. The USDA said May 31, 2019, is the deadline for assistance loans for feed grains, upland cotton, soybean and minor oilseeds.

Farm Service Agency Administrator Richard Fordyce says the loans provide short-term financing, “allowing producers to meet interim cash flow needs and market their crops following a timeline that is the most advantageous."

The marketing assistance loans are considered nonrecourse, meaning they can either be redeemed by repaying the loan or delivering the pledged collateral, being the crop, at loan maturity to the Commodity Credit Corporation as full payment. In circumstances where the county commodity price falls below the county loan rate, producers may repay loans at less than the loan rate plus accrued interest and other charges, therefore, receiving a market loan gain.

To apply for a loan, contact your local Washington FSA office or Oregon FSA office.

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