University of Nebraska Board of Regents to meet Aug. 8
The University of Nebraska Board of Regents will meet Thursday, Aug. 8, at Varner Hall, 3835 Holdrege St. in Lincoln. The meeting begins at 9 a.m. The meeting is open to the public and will also be live-streamed at www.nebraska.edu.
The meeting will lead off with a celebration of the 2024 President’s Excellence Awards recipients. The awards are the highest honor presented by the Office of the President, annually recognizing exceptional achievements by University of Nebraska faculty and departments in teaching, research, innovation and engagement.
President Jeffrey P. Gold, M.D., will give remarks reflecting on his first six weeks in office.
Key items for the Board’s consideration include:
· Creation of a new undergraduate certificate in esports media and communication in the University of Nebraska-Lincoln’s College of Journalism and Mass Communications (Addendum XI-A-2). The certificate will prepare students for work in electronic sports (competitive video gaming), a fast-growing industry whose audience is expected to top 1.4 billion by 2025.
· Creation of a bachelor’s degree in artificial intelligence to be administered by the University of Nebraska at Omaha’s College of Information Science & Technology (Addendum XI-A-4). The collaborative new degree program – the first undergraduate program of its kind in Nebraska, to the best of the university’s knowledge – will draw on coursework in UNO’s computer science program as well as UNL’s data science degree. It is expected to launch in fall 2025.
“AI is poised to reshape every part of our lives. The University of Nebraska must be on the cutting edge in preparing students to lead in this field that grows and evolves literally by the hour,” Dr. Gold said. “With this AI program, we’ll be able to offer exciting new opportunities for students while addressing an urgent workforce need for our state. I could not be more pleased with the collaboration between UNO and UNL that is resulting in this new degree, and with the positive feedback we’re already hearing from business leaders across the state.”
· The program statement for Project Health at UNMC, including authorization to spend $50 million from existing philanthropic funds on non-construction design work. (Addendum XI-B-9)
UNMC has a goal to grow professional learner enrollment by 20 to 25 percent to meet Nebraska’s urban and rural healthcare needs. This will only be possible with significant expansion and improvement of teaching and learning capacity at UNMC’s locations across the state. A public-private partnership, Project Health (the first phase of Project NExT) aims to address the challenge. Added capacity for teaching and research activities will also strengthen Nebraska’s competitiveness as it seeks readmission into the AAU.
“UNMC’s mission is to lead the world in transforming lives and communities. Project NExT is an ambitious effort which will significantly help rural and urban Nebraska communities maintain a growth trajectory for generations to come,” Dr. Gold said. “This first phase is an exciting step forward and we look forward to working with our many public and private partners to continue to bring our vision to reality.”
· The 2025-27 biennial and capital budget requests for the University of Nebraska and Nebraska College of Technical Agriculture (Addenda XI-B-1 and XI-B-2). The university must submit its request to the Coordinating Commission for Postsecondary Education by Aug. 15 and to the state by Sept. 15. Per budget instructions issued to all state agencies from the state’s budget office, the university is planning 3% increases for salaries and 5% increases for health insurance, which are placeholders until collective bargaining and health insurance plans are finalized later this year.
The university will seek $1.5 million each year of the biennium to match the Board of Regents’ investment in expanding the highly successful Presidential Scholars Program, launched earlier in 2024 to provide full cost of attendance scholarships plus a $5,000 annual stipend to Nebraska students who score a perfect 36 on the ACT. NU will also request $1.5 million each year to support research excellence through the Nebraska Research Initiative, key to its goal of readmission into the prestigious Association of American Universities.
Finally, the university will request the transfer of existing capital construction funds for Project Health, reappropriation of capital construction funds for the Ag Tech Incubator & Accelerator at Innovation Campus, and planning dollars for upgrades to the Peter Kiewit Institute at UNO and a new College of Allied Health building at UNMC, both of which would be funded through public-private partnerships.
· Naming of the new feedlot center at the Eastern Nebraska Research, Extension and Education Center the Klosterman Feedlot Innovation Center in recognition of longtime UNL and IANR supporters John and Beth Klosterman of David City. (Addendum XI-B-5)
· Naming of the exterior plaza of the Osborne Legacy Complex the Sandhills Global Plaza in recognition of a generous donation by Sandhills Global in support of Husker Athletics. (Addendum XI-B-7)
Attend the 2024 ACS Innovation Series at a Plot Near You
The 2024 Central Valley Ag ACS Innovation Series is just a few short weeks away! These events will showcase the latest advancements in technology and practices, designed to equip you with the knowledge and tools to bring your operation to new heights.
The CVA ACS team will be on site to help you dive deeper into the services and products that CVA and ACS can provide you with to increase crop production.
Unlock the Secrets of Your Soil:
Tim Mundorf, CVA Director of Soil Management, will provide valuable insights on CVA Fertility Recommendations, giving you ways to optimize soil health and nutrient availability for peak crop performance.
High-Yield Strategies Unveiled:
The CVA Agronomy Sales Team will unveil their high-yield corn and soybean programs, specifically designed to help you unlock your yield potential.
Explore the Latest Breakthroughs:
Dr. Randy Brown of WinField United will delve into the exciting world of Soil DNA testing, Biological products, Carbon Credits, and the most recent advancements revolutionizing agriculture.
Discover CVA's Value Added Crops:
Shane Jessen, CVA's Seed Development Manager, Dale Broekemeier, CVA Director of Specialty Products, and James Droescher, CVA Grain Specialist, will shed light on CVA's value-added crop programs, providing you with new opportunities to boost your farm's profitability.
The CVA ACS Innovation Series goes beyond theory. Learn more about the ongoing research trials that explore the most effective practices for maximizing your yield:
Fertilizer Optimization: Witness the effectiveness of various Dry and Liquid Fertilizers, and Fertilizer Enhancement Products applied through In-furrow, Y-drops, and Broadcast methods.
Micronutrient Power: See the impact of Foliar Applied micronutrients, Biological products, and fungicides, applied in different combinations and sequences to determine optimal timing for peak yield.
Soybean Population Strategies: Observe the results of trials testing various soybean planting populations with and without the innovative plant growth regulator, CVA Elite Accelerate.
This year, CVA Field Sales Agronomists were challenged to demonstrate their crop management plans for High Yield Corn and Soybeans. The goal of this contest was to see which CVA region could achieve the highest yield with the best ROI using their crop management plans. These tests were done at all four of the ACS innovation plots - Belleville, KS (rainfed), Beaver Crossing, NE (irrigated), Norfolk, NE (irrigated), and Sheldon, IA (rainfed). Visit one of these plots to see the results!
2024 ACS Innovation Series:
August 13 | Belleville, Kansas
August 15 | Norfolk, Nebraska
August 22 | Beaver Crossing, Nebraska
August 27 | Marquette, Nebraska (Organic Plot)
We hope to see you at one of the four plots for the ACS Innovations Series events happening soon. You can register for the event here... https://lp.constantcontactpages.com/ev/reg/tswvu8w.
2024 NEBRASKA HONEY BEE COLONIES
Honey bee colonies for operations with five or more colonies in Nebraska as of January 1, 2024 totaled 17,500 according to the USDA's National Agricultural Statistics Service. The number of colonies in Nebraska on April 1, 2024 was 11,000. During 2023, honey bee colonies on January 1, April 1, July 1, and October 1 were 17,000, 8,000, 32,000, and 39,000, respectively.
Honey bee colonies lost for operations with five or more colonies during the quarter of January-March 2024, was 1,200 colonies or 6% lost. During April-June 2024, 1,200 colonies or 5% of colonies were lost. The quarter of October-December 2023, at 5,500 or 13%, showed the highest number of lost honey bee colonies of any quarter in 2023. The quarter of January-March 2023 had a loss of 1,100 colonies or 5%, the lowest number of honey bee colonies lost in 2023.
Honey bee colonies added for operations with five or more colonies during the quarter of January-March 2024, was 0 colonies. The number of colonies added during the April-June 2024 quarter was 10,500. The quarter of April-June 2023, added 10,000 colonies, the highest number of honey bee colonies added for any quarter in 2023. The quarter of January-March 2023, at 0 added, showed the lowest number of honey bee colonies added during 2023.
Honey bee colonies renovated for operations with five or more colonies during the quarter of January-March 2024, was 0 colonies. The number of colonies renovated during the quarter of April-June 2024 was 9,500. During July-September 2023, 3,100 colonies were renovated, the highest number of colonies renovated during 2023. The lowest number of honey bee colonies renovated for any quarter of 2023, at 0, occurred during January-March 2023. Renovated colonies are those that were requeened or received new honey bees through a nuc or package.
Varroa mites were the number one stressor for operations with five or more colonies during all quarters of 2023. The quarter of April-June 2023 showed the highest percentage of varroa mites during 2023, at 27.4%. The percent of colonies reported to be affected by varroa mites during January-March 2024, and April-June 2024 were 14.8% and 5.9%, respectively.
Iowa Honey Bee Colonies
Honey bee colonies for operations with 5 or more colonies in Iowa as of January 1, 2024, totaled 56,000 colonies. This was up 12 percent from the 50,000 colonies on January 1 last year but down 20 percent from the 70,000 colonies on October 1, 2023. The maximum number of colonies during the January-March 2024 quarter was 59,000.
Honey bee colonies lost for operations with 5 or more colonies for the January-March 2024 quarter was 1,900, or 3 percent. This percent was unchanged from the same period last year but up 1 percent from losses reported during the October-December 2023 quarter.
Varroa mites was the number one stressor for operations with 5 or more colonies in all of 2023.
January 1 Honey Bee colonies Down 1 Percent for Operations with Five or More colonies
Honey bee colonies for operations with five or more colonies in the United States on January 1, 2024 totaled 2.71 million colonies, down 1 percent from January 1, 2023. The number of colonies in the United States on April 1, 2024, was 2.71 million colonies. During 2023, honey bee colonies on January 1, April 1, July 1, and October 1 were 2.73 million, 2.71 million, 2.92 million, and 2.82 million colonies, respectively.
Honey bee colonies lost for operations with five or more colonies from January through March 2024, was 396,820 colonies, or 15 percent. The number of colonies lost during the quarter of April through June 2024, was 288,190 colonies, or 11 percent. During the quarter of April through June 2023, colonies lost totaled 378,190 colonies, or 14 percent, the highest number lost of any quarter surveyed in 2023. The quarter surveyed in 2023 with the lowest number of colonies lost was October through December, with 254,520 colonies lost, or 9 percent.
Honey bee colonies added for operations with five or more colonies from January through March 2024 was 404,100 colonies. The number of colonies added during the quarter of April through June 2024 was 617,420. During the quarter of April through June 2023, the number of colonies added were 618,350 colonies, the highest number of honey bee colonies added for any quarter surveyed in 2023. The quarter of October through December 2023 added 118,840 colonies, the least number of honey bee colonies added for any quarter surveyed in 2023.
Honey bee colonies renovated for operations with five or more colonies from January through March 2024 was 215,070 colonies, or 8 percent. During the quarter of April through June 2024, the number of colonies renovated were 521,790 colonies, or 19 percent. The quarter surveyed in 2023 with the highest number of colonies renovated was April through June 2023 with 485,640 colonies renovated, or 18 percent. The quarter surveyed in 2023 with the lowest number of colonies renovated was January through March 2023, with 113,440, or 4 percent. Renovated colonies are those that were requeened or received new honey bees through a nucleus (nuc) colony or package.
Varroa Mites Top Colony Stressor for Operations with Five or More colonies
Varroa mites were the number one stressor for operations with five or more colonies during all quarters surveyed in 2023. The period with the highest percentage of colonies reported to be affected by varroa mites was April through June 2023 at 52.0 percent. The percent of colonies reported to be affected by varroa mites during January through March 2024 and April through June 2024 are 43.3 percent and 54.8 percent, respectively.
Colonies Lost with Colony Collapse Disorder Symptoms Down 34 Percent for Operations with Five or More colonies
Honey bee colonies lost with Colony Collapse Disorder symptoms on operations with five or more colonies was 70,650 colonies from January through March 2024. This represents a 34 percent decrease from the same quarter in 2023.
Enrollment Open for Practical Farmers’ Cover Crop Cost-Share Program
Enrollment is now open for Practical Farmers of Iowa’s 2024 cover crop cost-share program. Midwestern farmers interested in seeding fall cover crops can get payment rates of $10 or $15 per acre on an unlimited number of acres, along with personalized agronomic support.
Now in its tenth year, the program has helped thousands of people across the Midwest plant cover crops.
“We’ve worked hard to build a strong program, one that provides the support farmers need to get covers in their fields,” says Morgan Jennings, PFI’s field crops viability coordinator. “Cover crops are a great entry point for farmers interested in conservation. Beyond the soil, water and other ecological benefits, our farmers tell us they also see reduced chemical input costs, boosted yields and increased forage availability.”
Both farmers with a history of cover crop use and those seeding cover crops for the first time are encouraged to apply. Non-organic corn and soybean farmers in Iowa and parts of Illinois, Minnesota, Missouri, Nebraska, South Dakota and Wisconsin are eligible.
Farmers who enroll also receive a complimentary one-year membership to PFI. In 2023, 970 cost-share participants became PFI members for the first time, giving them direct access to a community of seasoned cover croppers.
“In 2023, we saw a huge spike in interest, with nearly twice as many farmers enrolling in the cost-share than in the 2022 season,” says Morgan. “We try to make our program as easy to use as possible, keeping the paperwork to a minimum.”
Edward Morse, who farms in western Iowa, began participating in the cost-share in 2019.
“The program is simple, straightforward and makes cover crops more economical for both grain and livestock producers,” says Edward Morse. “We benefit by improving our soil health and weed suppression, while also reducing erosion and improving water quality and overall conditions in our environment .”
The application form only takes about 10 minutes to complete, and farmers can stack the cost -share with other publicly funded programs (but cannot dually enroll acres in another private cost -share program). Full details and the application form are available at practicalfarmers.org/cover-crop-cost-share.
The deadline to apply is December 2, 2024. For questions, to check eligibility or for help getting signed up, farmers should contact our cover crops cost-share team by emailing covercrops@practicalfarmers.org, calling the office at (515) 232-5661 or visiting practicalfarmers.org/cover-crop-cost-share.
Funding for this program is made possible by ADM, Cargill, PepsiCo and Unilever.
Fats and Oils: Oilseed Crushings, Production, Consumption and Stocks
Soybeans crushed for crude oil was 5.51 million tons (184 million bushels) in June 2024, compared with 5.75 million tons (192 million bushels) in May 2024 and 5.24 million tons (175 million bushels) in June 2023. Crude oil produced was 2.18 billion pounds, down 4 percent from May 2024 but up 5 percent from June 2023. Soybean once refined oil production at 1.71 billion pounds during June 2024 decreased 4 percent from May 2024 and decreased 1 percent from June 2023.
Grain Crushings and Co-Products Production
Total corn consumed for alcohol and other uses was 495 million bushels in June 2024. Total corn consumption was down 3 percent from May 2024 but up less than 1 percent from June 2023. June 2024 usage included 91.6 percent for alcohol and 8.4 percent for other purposes. Corn consumed for beverage alcohol totaled 4.03 million bushels, up 8 percent from May 2024 but down 25 percent from June 2023. Corn for fuel alcohol, at 442 million bushels, was down 3 percent from May 2024 but up slightly from June 2023. Corn consumed in June 2024 for dry milling fuel production and wet milling fuel production was 91.8 percent and 8.2 percent, respectively.
Dry mill co-product production of distillers dried grains with solubles (DDGS) was 1.79 million tons during June 2024, down 10 percent from May 2024 but up less than 1 percent from June 2023. Distillers wet grains (DWG) 65 percent or more moisture was 1.12 million tons in June 2024, down 8 percent from May 2024 and down 14 percent from June 2023.
Wet mill corn gluten feed production was 272,101 tons during June 2024, up 1 percent from May 2024 and up 1 percent from June 2023. Wet corn gluten feed 40 to 60 percent moisture was 197,847 tons in June 2024, down 5 percent from May 2024 but up 10 percent from June 2023.
Flour Milling Products
All wheat ground for flour during the second quarter 2024 was 226 million bushels, down less than 1 percent from the first quarter 2024 grind of 227 million bushels but up 2 percent from the second quarter 2023 grind of 222 million bushels. Second quarter 2024 total flour production was 105 million hundredweight, down 1 percent from the first quarter 2024 but up 2 percent from the second quarter 2023. Whole wheat flour production at 4.32 million hundredweight during the second quarter 2024 accounted for 4 percent of the total flour production. Millfeed production from wheat in the second quarter 2024 was 1.61 million tons. The daily 24-hour milling capacity of wheat flour during the second quarter 2024 was 1.60 million hundredweight.
Senate passes bipartisan WRDA
The National Grain and Feed Association (NGFA) today commended the Senate for its unanimous passage of the Thomas R. Carper Water Resource Development Act of 2024 (WRDA), which authorizes navigation and ecosystem restoration projects for the U.S. Army Corps of Engineers (Corps). The Senate Committee on Environment and Public Works had unanimously advanced the bill on May 22.
NGFA released the following statement:
“We commend the efforts of Committee Chairman Tom Carper, D-Del., and Ranking Member Shelley Moore Capito, R-W.Va., along with Transportation and Infrastructure Subcommittee Chairman Mark Kelly, D-Ariz., and Ranking Member Kevin Cramer, R-N.D., for their dedication to maintaining waterways infrastructure legislation on a biennial, bipartisan basis.
“This bill authorizes feasibility studies and new or modified construction projects and directs the Corps to expedite the completion of several ongoing studies and projects from past WRDAs. Importantly, the bill permanently increases the federal cost-share for inland waterway projects to 75 percent, with the remaining 25 percent from the Inland Waterways Trust Fund (adjusted from 65/35). Additionally, it provides full federal funding for projects financed through the Infrastructure Investment and Jobs Act.
“The U.S. inland waterways system is crucial to the operations of NGFA-member companies and the agricultural supply chain, with barges transporting about half of all grains to export grain elevators. Efficient inland locks and dams and modern ports are vital to maintaining America’s comparative infrastructure advantage.”
The U.S. House of Representatives passed its version of the WRDA on July 22.
“NGFA looks forward to serving as a resource for lawmakers as the EPW Committee and the House Transportation and Infrastructure Committee begin the conference process to reconcile the differences between the two bills.”
ASA Comments on EPA's Proposed Cancellation of Acephate Uses
EPA has proposed canceling all uses of the insecticide acephate, except for tree injections, due to concerns about drinking water risks. Soybeans and cotton account for 95% of acephate applications and are central to these concerns. In response, the American Soybean Association has submitted two sets of comments: one for coalition sign-on and one specific to ASA.
Coalition comments addressed general issues with the proposed interim decision (PID) and the drinking water risk assessment (DWA). These comments highlighted that EPA’s proposal is excessive, as only one region, the Mississippi Delta, marginally exceeded conservative drinking water standards. This mirrors past issues with chlorpyrifos and carbofuran, where similar cancellation approaches faced from EPA resulted in legal challenges. The coalition urged EPA to consider additional data from registrants, USDA, and stakeholders to adjust usage restrictions appropriately.
ASA’s specific comments focused on acephate’s use in soybeans, particularly for controlling redbanded stinkbugs (RBSB), for which few alternative controls are available. Based on feedback from growers, USDA, registrants, and entomologists, ASA recommended adjustments to soybean applications to align with the drinking water risk assessment. Suggested changes include reducing the first application rate from 1.0 lb/acre to 0.75 lb/acre, maintaining the second application at 0.5 lb/acre, and extending the retreatment interval to up to 14 days if necessary. These adjustments aim to maintain effectiveness against RBSB and other pests while ensuring compliance with the risk assessment, thereby allowing continued use of the product.
ASA Comments on Captan & Thiram
ASA likewise submitted comments this week on the fate of two additional products with registrations under review: fungicides Thiram and Captan. In its proposed interim decisions for their re-registration, EPA identified occupational risks, including skin exposure and dust inhalation, to farmers and seed treatment applicators. The agency has proposed 1) banning solid formulation on-farm seed treatment applications on soybeans for thiram, and 2) prohibiting all seed treatment uses on soybeans for captan.
The letter from ASA to the director of EPA’s pesticide reevaluation division raises concerns with the proposed prohibitions and explains why farmers need access to a robust array of seed treatment fungicides to protect seeds and seedlings early season. ASA also shares information from the seed treatment survey data collected from ASA directors in December 2023 showing how risks of dust off and exposure to growers and treaters is not as serious as EPA alleges.
Both chemistries are important to U.S. soybean growers, as they can be rotated and mixed with other fungicidal active ingredients to provide robust protection for seeds and seedlings during the early season, post-planting period when soilborne fungal pressures can be greatest.
While both active ingredients are effective at protecting seeds from a range of fungal pests, thiram is particularly helpful in controlling Rhizoctonia, and captan is most helpful in managing Rhizoctonia and Pythium pressures. Without sufficient fungal seed treatment tools to manage these and other fungal pests, U.S. soybean growers risk significant early season crop damage, which can translate into costly yield loss or catastrophic replanting or prevented planting scenarios if the damage is severe.
June DMC Margin Gains $1.14/cwt to $11.66/cwt
NMPF Newsletter
The Dairy Margin Coverage Program margin in June was $11.66/cwt after adding $1.14/cwt over the previous month.
The June all-milk price was $22.80/cwt, up $0.80/cwt from May, and the DMC feed cost dropped by $0.34 for the month, mostly on a lower premium alfalfa price. The DMC margin calculated by USDA has risen $2.06/cwt over the past two months, reaching a level well above the threshold at which payments are generated by falling margins.
Futures-based forecasts at the end of July indicate that the DMC margin will average about $11.90/cwt during 2024, $0.40/cwt higher than similar forecasts indicated a month ago, with a peak in October, a sign that producers may have an opportunity to repair battered balance sheets over the next several months.
Special August Board Meeting Will Assess Proposed CWT Improvements
The National Milk Producers Federation Board of Directors will hold a special, virtual meeting Aug. 22 to review and potentially a package of changes to the Cooperatives Working Together export assistance program, with the goal of implementing the changes on Jan. 1.
NMPF’s Executive Committee approved July 9 a CWT renewal package initially developed and endorsed by NMPF’s CWT Task Force. The renewal process now requires Board approval, after which individual co-ops will determine their support for the program in its new form.
The Board will reconvene at its Oct. 21 meeting to evaluate the level of support for the program going into 2025.
The package approved by the CWT Task Force and the Executive Committee includes updates in the areas of Product Mix; Bid Process Adjustments; and Market Development. The recommendations include updates to or new resources in the following program areas:
All cheese varieties will be eligible for CWT’s price gap support
CWT will create targeted pilot programs to address tariff coverage for value-added skim milk powder sales to Southeast Asia, and a target market premium for cheese sales to Central America & the Caribbean
CWT will offer fat-equivalent support for the following products: ESL/aseptic fluid milk; evaporated/condensed milk; and ice cream
CWT will increase its operating program bid flexibility to extend eligible delivery periods to 12 months, and remove volume limits on a trial basis
CWT staff will provide increased insight on bid acceptance parameters, sharing a short summary with weekly offers explaining shifts in support levels
CWT will create an advisory group to provide strategic direction and market development support, with a Phase I emphasis on pre-competitive support that provides opportunities for all cooperatives to participate.
CWT July Committed Product Volume
CWT member cooperatives secured over 60 contracts in April, adding 9.6 million pounds of product to CWT-assisted sales in 2024. In milk equivalent, this is equal to 88.6 million pounds of milk on a milkfat basis. These products will go to customers in Asia, Central America, the Caribbean, Middle East-North Africa, Oceania and South America and will be shipped from April through September 2024.
USDA Announces August 2024 Lending Rates for Agricultural Producers
The U.S. Department of Agriculture (USDA) announced loan interest rates for August 2024, which are effective Aug. 1, 2024. USDA Farm Service Agency (FSA) loans provide important access to capital to help agricultural producers start or expand their farming operation, purchase equipment and storage structures or meet cash flow needs.
“I encourage our lenders and borrowers alike to work with our local offices and our cooperators to capitalize fully on the existing flexibilities in these important programs,” said FSA Administrator Zach Ducheneaux.
Operating, Ownership and Emergency Loans
FSA offers farm ownership, operating and emergency loans with favorable interest rates and terms to help eligible agricultural producers, whether multi-generational, long-time, or new to the industry, obtain financing needed to start, expand or maintain a family agricultural operation.
Interest rates for Operating and Ownership loans for August 2024 are as follows:
Farm Operating Loans (Direct): 5.375%
Farm Ownership Loans (Direct): 5.625%
Farm Ownership Loans (Direct, Joint Financing): 3.625%
Farm Ownership Loans (Down Payment): 1.625%
Emergency Loan (Amount of Actual Loss): 3.750%
FSA also offers guaranteed loans through commercial lenders at rates set by those lenders. To access an interactive online, step-by-step guide through the farm loan process, visit the Loan Assistance Tool on farmers.gov.
Commodity and Storage Facility Loans
Additionally, FSA provides low-interest financing to producers to build or upgrade on-farm storage facilities and purchase handling equipment and loans that provide interim financing to help producers meet cash flow needs without having to sell their commodities when market prices are low. Funds for these loans are provided through the Commodity Credit Corporation (CCC) and are administered by FSA.
Commodity Loans (less than one year disbursed):6.000%.
Farm Storage Facility Loans:
Three-year loan terms: 4.375%
Five-year loan terms: 4.250%
Seven-year loan terms: 4.250%
Ten-year loan terms: 4.250%
Twelve-year loan terms: 4.375%
Sugar Storage Facility Loans (15 years): 4.500%
Farm Loan Program Process Improvement
FSA has a significant initiative underway to streamline and automate the Farm Loan Program customer-facing business process. For the over 26,000 producers who submit a direct loan application annually, FSA has made various improvements, including:
The Online Loan Application, an interactive, guided application that is paperless and provides helpful features, including an electronic signature option, the ability to attach supporting documents, such as tax returns, complete a balance sheet and build a farm operating plan.
The Loan Assistance Tool that provides customers with an interactive online, step-by-step guide to identifying the direct loan products that may be a fit for their business needs and to understanding the application process.
An online direct loan repayment feature that relieves borrowers from the necessity of calling, mailing or visiting a local Service Center to pay a loan installment.
A simplified direct loan paper application, reduced from 29 pages to 13 pages.
A new educational hub with farm loan resources and videos.
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