Producers interested in a Farm Service Agency Marketing Assistance Loan (MAL) are reminded that March 31, 2011, is the deadline to put 2011 small grain crops under a 9-month loan.
A MAL is available to producers who share in the risk of producing a crop. To be eligible, a producer must maintain continual beneficial interest in the crop from harvest through the earlier of the date the loan is repaid or Commodity Credit Corporation (CCC) takes title of the commodity.
In addition, commodity loan eligibility requires compliance with conservation and wetland protection requirements; beneficial interest requirements, acreage reporting and ensuring that the commodity meets CCC minimum grade and quality standards. The quality of the commodity in farm storage must be maintained throughout the term of the loan.
Violating provisions of a marketing assistance loan may trigger administrative actions, such as assessing liquidated damages, calling the loan and denial of future farm-stored loans.
For more information or to apply for a MAL, contact your Marathon County Office at (715) 848-2330 at least a week prior to the time you would like the loan.
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