This weeks Cotton Newsline is 3 cuts. All cuts are Gene Rosera, Program Manager for the Cotton Programs with the Farm Service Agency in Washington, D.C. He also over looks the implementation of loan and loan deficiency payment programs.
Suggested introduction cut 1:
As of March 25 the Commodity Credit Corporation has implemented new software that denies storage credits for yard-stored upland cotton. Gene Rosera, Program Manager for the Cotton Programs with the Farm Service Agency explains the regulation change.
Suggested introduction cut 2:
Rosera says any loan bale of cotton that’s redeemed from the morning of March 25 and subsequently would be subject to denied storage credits.
Suggested introduction cut 3:
Rosera reminds producers that the increase in Adjusted World Price level has effectively eliminated 2007-crop loan collateral storage credit payments.