Marketing Assistance Loans (MALs) and Loan Deficiency Payments (LDPs) are available to help Texas farmers meet cash flow needs without having to sell commodities when market prices are at harvest time lows, according to the Texas Farm Service Agency (FSA).
A producer who is eligible to obtain a marketing loan, but agrees to forgo the loan, may obtain a loan deficiency payment if such a payment is available. The programs provide financing and marketing assistance for wheat, feed grains, soybeans and other oilseeds, pulse crops, rice, peanuts, cotton, wool and honey. For eligibility, producers must control the commodity or a title to the commodity until the loan is repaid.
FSA is now accepting applications for all eligible commodities. For expedited service, interested producers are encouraged to schedule an appointment. Other program restrictions may apply, including limits on total payments or gross income thresholds. Consult your local FSA office for further details. For more information, visit www.fsa.usda.gov/pricesupport. To find your local USDA Service Center, go to http://offices.usda.gov.
MALs and LDPs were reauthorized by the 2014 Farm Bill. For more information, visit www.usda.gov/farmbill.