Producers of wheat, barley and oats who are enrolled in the USDA's Direct and Countercyclical Payment Program will not receive partial 2007 countercyclical payments because prices of those commodities are above the target prices for the program established in the 2002 Farm Bill. Based on historical base acreage and payment yields; the November World Agricultural Supply and Demand Estimates Report projects effective prices above those target prices.
Partial payments on base acres of upland cotton, rice and peanut will be announced after Feb. 1, 2008, while March 1, 2008 is when producers will find out if there will be any partial payments on corn, grain sorghum or soybean base acres. This year any countercyclical payments will be made in two installments, a change from the past when it was done in three payments.
Talk to your local Farm Service Agency for more information or click HERE.