Tuesday Marks Program Deadline
Washington--The U.S. Department of Agriculture has announced that the deadline to sign up for the 2008 Direct and Counter-cyclical program is Tuesday, Sept. 30.
Counter-cyclical payments provide support counter to the cycle of movement of market prices as part of a "safety net" in the event of low crop prices. Counter-cyclical payments for a commodity are only issued if the effective price for a commodity is below the target price for that particular commodity.
DCP payments are available for barley, corn, grain sorghum, oats, canola, crambe, flax, mustard, rapeseed, safflower, sesame and sunflower, peanuts, rice, soybeans, upland cotton, and wheat.
The 2008 program is similar to the 2007 program except for a provision that does not allow payments to be made on farms that have Commodity Program bases of less than 10 acres.
Payments are computed using base acreages for the Commodity Program crops and program yields established for each commodity on the farm. Eligible producers receive direct payments at rates established by law regardless of the market prices.
Contact your local FSA Office for more details before Tuesday.