New provisions for USDA’s Cotton Marketing Assistance Loan program went into effect on Wednesday. According to Dr. Mark Lange, President and CEO for the National Cotton Council, warehouses, marketing cooperatives and merchants are the ones affected by the new rule.
Lange says warehouses will also have a new role of submitting weekly reports to the Commodity Credit Corporation on their bales made available for shipment.
Lange believes the new rules could impact the timing of decisions for exporters.
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