West of Mpls MN about 50 miles on Hwy 12 | The corn I'm going to put under CCC loan sometime this month was sold for $4.00++ cash to our local e-plant last July, for next June delivery. My plan from the get go was to use the loan program to meet my cash flow needs.
Using the gov't loan does not mean us farmers who use the program are cash strapped, going broke, or have rotting corn in the bin. It means we sold our corn at a profitable level, spread out our work load, all the while meeting cash flow needs. Sounds like good management to me.
The very low interest gov't loan is a great, risk free management/marketing tool, always has been. The interest is way better than the local bank. |
Weekly Crop Loan report.. farmers add 50 myn bu corn up to 221
