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Archive for Thursday, June 18, 1998

WHEAT PRICES SPUR PAYMENT PLAN

June 18, 1998

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Because of falling wheat prices and with the area harvest getting started, the Douglas County Farm Service Agency is reminding producers they may be eligible for direct federal payments for bushels harvested.

The ``loan deficiency payments'' are directly related to commodity loans and work like this: Each day, the USDA calculates a market loan repayment rate. If that rate is below the USDA's ``county loan rate,'' the difference would be the payment received.

For example, the current Douglas County Loan Rate for wheat is $2.67. If the posted county price were $2.57, producers would be eligible for a payment equal to the difference, or 10 cents.

Because Wednesday's posted county price, at $2.68, was higher than the loan rate, no deficiency payment would be paid. The Journal-World has begun publishing the loan rate and county price daily along with other commodities prices.

For more information, contact Douglas County Farm Service at (785) 843-4260.

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