Alflatoxins are a group of chemicals produced by certain mold fungi. It can be recognized by yellow-green or gray-green, respectively, on corn kernels in the field or storage. Aflatoxins are harmful or fatal to livestock and considered carcinogenic (cancer-causing) to animals and humans. Alflatoxins levels are highest during hot, dry summers or in areas affected by hail. If you are concerned with Alflatoxins, you should have your grain tested.
It appears there are areas in the county that are affected by alflatoxin in the corn. If you do have alflatoxin in your corn, you should be contacting your insurance provider prior to harvest.
Corn with 20 parts per billion or less can be put under loan with no discounts. Producers are responsible for the quality and quantity for all commodity loans.
2007 Commodity Loans
CCC Marketing Loans are available to producers who wish to pledge their 2007 crops as collateral. The 2007 Crop Loan rates for Clay County are as follows:
Spring Wheat $2.81
Winter Wheat $2.72
Producers are required to have "beneficial interest" in a commodity to pledge it as collateral for a CCC loan. Loans mature (become due) the last day of the ninth month after the month in which disbursed. Loans accrue interest at a comparatively low interest rate. The interest rate for October marketing loans is 5.25%.
A marketing loan can be settled one of three ways:
- Repay Principal Plus Interest
- Repay at Posted County Price (CCC Determined Value)
- Deliver Commodity to CCC at Maturity
Loan collateral may be stored either on the farm or in the warehouse. Producers storing loans on the farm may certify the quantity, provide measurements to the office, or pay the office for measurement service. Producers who will store collateral in a warehouse must submit a negotiable warehouse receipt and pay storage through loan maturity.
Producers should contact the office a WEEK prior to requesting a loan. Lien searches must be done, and lien waivers mailed and returned. This also gives the office an opportunity to set up an appointment so you can be served timely during this busy season. If you wish to schedule an appointment to receive a marking grain loan, please call (605) 624-7060, Ext. 2.