Big Ben - 8/23/2024 15:46
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. /QUOTE] if we get to ldp, very few will have money, it’s gonna be bad enough if we get into the $2’s much less the 1’s…. Pretty easy to be bummed right now, but I remember 2001-2003 being really crappy but things were literally 20% of what they cost now, from tractors to land and rent etc
LDP program
