Columbia Basin, Ephrata, WA | dittfarms - 8/23/2024 13:40
I don’t think you have to put it under loan.
But if it goes below loan and you owe on it when you sell and sell for less it is written off or in govt words loan deficiency payment. The reason you don’t have to take the loan is it would put a huge workload writing all the loans. Just easier to make a payment and not worry where the grain went once it was secured by ccc. You know, nobody would ever sell something and not pay a loan back, just college kids…
Yeah, makes sense that you could collect the LDP without taking the loan.
We always took the loan because the interest was a little cheaper, and it’s d@mn hard to have any money farming at or near LDP prices.
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LDP program
