Electronic Warehouse Reporting – Update Shipping Order Feature Fact Sheet
Memphis-based EWR, Inc. introduced an enhancement of its electronic warehouse receipt process with the aim of promoting a more streamlined, accurate and cost effective process for establishing bale shipping order load dates. Additional information about this feature is available on the EWR, Inc. website. The information warehouse and shipper software vendors need to incorporate a Batch Type 23, Update Shipping Order, option in their software packages can be found by selecting "Downloads" under the main menu and reviewing the "Design Manual" documents.
User Guide for Transferring Cotton Pledged as Collateral For a Commodity Credit Corporation (CCC) Loan (26K pdf)
CCC mailed a guide to selected cotton interests on April 9, 2008 containing updates and clarifications for transferring CCC loan cotton. No major changes to the transfer process were made. The purpose of the guide was to encourage merchants and others to use the web process when redeeming cotton in the CCC loan.
CCC to Implement Denied Storage Credits Software
According to “Notice CN-1030” CCC will begin denying storage credits for yard-stored upland cotton on March 25, 2008. The notice contains general provisions describing: 1) how to determine when payments begin (called the “CCC storage-start date”), 2) the loan notification date, 3) how to determine the 15-calendar-day grace period for loan bales that are yard-stored but moved inside and 4) clarifies warehouse reporting requirements for yard storage of CCC cotton loan collateral. The notice states that “…under CCC’s zero-tolerance policy about yard storage reporting, if loan bales are found to be yard-stored but not reported as yard-stored, the warehouse is subject to losing its approved status.”
CCC Issues Policy Regarding Use of Cotton Transfer Process for Certification
The Commodity Credit Corp. permits use of the loan-cotton transfer process for the purpose of replacing electronic warehouse receipts (EWR's) with certificated EWR's. This will allow loan bales to be deliverable (after they are redeemed from loan) under futures contracts of the Intercontinental Exchange, Inc.
Loan Cotton Charges and Transfers Described (52K pdf)
This NCC-developed paper describes loan charges that producers may face upon forfeiture of cotton. The paper also points out how recent regulatory changes may affect loan charges. The updated paper includes adjustments to CCC storage credit rates which reflect the changes required by the 2008 Farm Bill. In March of 2009, USDA's Farm Service Agency updated the "Fees and Charges Assessed by the Commodity Credit Corporation for Loans and Transfers" fact sheet which includes a revised table listing current redemption and forfeiture charges.
Warehouses Not Complying with Mandatory Reporting
Every week, the number of warehouses in each state that fail to report the warehouse’s weekly cotton flow is posted.
Rail Webinar Survey Results
NCC members recently joined with others in the agricultural industry to participate in a webinar focusing on the railroad situation. This webinar was designed to facilitate a discussion regarding railroad rates, costs, volumes and recovery of fuel costs through surcharge programs. During the webinar a survey allowed the participants to relate their experience with rail carriers. NCC members responses to the confidential survey were aggregated and are now available.
Rack Sample Study Board Report
The NCC’s Rack Sample Study Committee surveyed the industry to define current buyers’ sample-handling practices, costs and sample usage. Study Committee Chairman Bill Bowen reported a summary of the committee's findings at the 2004 Mid-Year NCC Board meeting.
Rack Sample Study Committee Report
(Members Only) NCC staff reported to the Rack Sample Study Committee results of survey designed to define current buyers’ sample-handling practices, costs and sample usage.
APHIS Revises Special Procedures for Cotton
Section 4-2 Special Procedures - Commodity - Cotton was revised by USDA Animal & Plant Health Inspection Service (APHIS) in the January 21, 2009 edition of the Export Program Manual (XPM). The revisions include several provisions of particular interest to the cotton industry.
APHIS Webinars on Electronic Phytosanitary Certificates
The Phytosanitary Certificate Issuance and Tracking (PCIT) system tracks the inspection of agricultural commodities and certifies compliance with plant health standards of importing countries. Webinar training has been used to present an introduction to the PCIT system to both government (Authorized Certification Officials (ACOs) and industry personnel. The sessions last approximately two hours and walk people through the PCIT system.
DISCLAIMER:
This webpage is for informational purposes only. Links or references to web sites and organizations found from links on this page shall not be construed as endorsements of those organizations policies or programs by the National Cotton Council.