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Price support
loans available
Linda Henry, county executive director of the Warren and Rappahannock County Agricultural Stabilization and Conservation Service (ASCS), said price support loans are available to all producers who are participating in 1986 farm programs.
Loan rates on the 1986 crops are com $2.08, wheat $2.38, barley $1.48 and soybean $4.82.
“Farmers who plan to commingle their 1986 and 1985 harvests and request a loan must check with our office first,” the ASCS official said.
Some farmers may wish to store their crops after harvest to take advantage of future price increases. “If so, a price support loan will provide them with operating cash at that time,” Ms. Henry advised.
Under the price support loan program, the Commodity Credit Corporation (CCC) makes loans to eligible farmers or to cooperative marketing associations. Stocks may be stored on the farm or in an approved commercial warehouse. The commodities serve as collateral for the loan.
Loans mature on demand, but no later than the last day of the ninth month following the month the loan is disbursed.
To protect the CCC’s interest, ASCS performs a lien search on all commodities pledged for price-support loans. CCC files financing statements for all farm-stored loans, except those made to cooperative marketing associations. If a lien is recorded on the crop, the farmer must obtain either a lien waiver, a subordination agreement, or the lienholder’s signature on the loan application.
Wheat and other small grain loans will be available through March 31, 1987. Ms. Henry sai$i loans on com, sorghum, and soybeans will be available until May 31, 1987.
Washington
4-H meets
By MELANIE MOFFETT
Secretary
On Wednesday, October
22, the Rappahannock Adventure
Team 4-H Club held its
first meeting at Trinity Episcopal
Church in Washington.
Club officers are as follows:
Amy Richardson, club president;
Melanie Moffett, secretary;
Emmy Bailey, treasurer
and vice-president.
The next meeting will be
held on November 12 at 3:30
p.m. at Trinity Episcopal
Church. Will-be participants
are suggested to plan a ride in
advance. Hope to see you
soon!
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