Warehouses Not Complying with Mandatory Reporting
The page shows the number of warehouses that fail to submit weekly cotton flow (BMAS) reports.
APHIS PHYTO Programs More Baled Cotton Friendly
USDA-APHIS has worked closely with the NCC and the cotton industry to make sure the phytosanitary certificate issuance process is cotton friendly. The APHIS PHYTO page contains useful information regarding the agency's electronic phytosanitary certificate (PHYTO) program and the APHIS compliance program for cotton warehouses.
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.
Explanation of Mandatory Warehouse Reporting Requirements
The explanation contains a summary of the mandatory reporting requirements that are included in the (USDA CCC-823) Cotton Storage Agreement and contact information for anyone needing additional information.
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.
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.