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In addition to deficiency payments, wheat producers may request at sign-up 75 percent of the projected emergency compensation payment, also known as the Findley payment. This payment rate is the difference between the basic loan rate of $2.76 and the higher of the 1988 loan and purchase rate of $2.21, or the national weighted average price received by wheat producers during the 1988 wheat marketing year which ends May 31, 1989.
Acreage reduction requirements for the 1988 programs are 27.5 percent for wheat, 20 percent for com, sorghum and barley with a voluntary 10 percent paid land diversion, and 5 percent for oats.
Applications for the 1988 acreage reduction program may be filed through April 15. For information or program applications, contact the Rappahannock ASCS office, on Gay St. in Washington, or call 675-3616.
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