[Federal Register: June 10, 2008 (Volume 73, Number 112)]
[Notices]
[Page 32675-32676]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr10jn08-15]
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DEPARTMENT OF AGRICULTURE
Commodity Credit Corporation
2008-Crop Marketing Assistance Loans and Loan Deficiency Payments
for Loan Commodities Except Cotton and Peanuts
AGENCY: Commodity Credit Corporation, USDA.
ACTION: Notice.
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SUMMARY: The Commodity Credit Corporation (CCC) will extend Marketing
Assistance Loans (MAL) and Loan Deficiency Payments (LDP) for the 2008
crop. The loan commodities covered by this Federal Register Notice
include: wheat, corn, grain sorghum, barley, oats, soybeans, rice,
sunflower seed, rapeseed, canola, safflower, flaxseed, mustard seed,
crambe, sesame seed, graded and non-graded wool, mohair, honey, dry
peas, lentils, and small chickpeas. As a result of this notice, CCC
will be able to commence administration of 2008-crop MAL and LDP
provisions and announce applicable 2008-crop loan rates, schedules of
premiums and discounts, and other related rates.
DATES: Effective Date: June 5, 2008.
FOR FURTHER INFORMATION CONTACT: Candace Thompson, Director, Price
Support Division, Farm Service Agency, USDA, STOP 0512, 1400
Independence Avenue, SW., Washington, DC 20250-0512; telephone: (202)
720-7901 or fax: (202) 690-3307; e-mail: candy.thompson@wdc.usda.gov.
Persons with disabilities who require alternative means for
communication (Braille, large print, audiotape, etc.) should contact
the USDA Target Center at (202) 720-2600 (voice and TDD).
SUPPLEMENTARY INFORMATION:
CCC administers the loan program including MAL and LDP, which
provides short-term financing to allow farmers to pay their bills soon
after harvest and facilitate orderly marketing throughout the rest of
the year. The loan program also provides significant income support
when market prices are below statutory loan rates. Current regulations
for MAL and LDP apply to the 2002 through 2007 crop years.
The Food, Conservation, and Energy Act of 2008 (Pub. L. 110-234)
(2008 Farm Bill) authorized the continuation of MAL and LDP, under the
regulations found at 7 CFR parts 1421, 1425, and 1434, for all loan
commodities for the 2008 through 2012 crops.
With the pending harvest of 2008-crop loan commodities, this notice
announces that CCC will implement immediately MAL and LDP provisions
for 2008-crop wheat, corn, grain sorghum, barley, oats, soybeans, rice,
sunflower seed, rapeseed, canola, safflower, flaxseed, mustard seed,
crambe, sesame seed, graded and non-graded wool, mohair, honey, dry
peas, lentils, and small chickpeas based on the current regulation in:
7 CFR Part 1421, Grains and Similarly Handled
Commodities--Marketing Assistance Loans and Loan Deficiency Payments
for the 2002 through 2007 Crop Years;
7 CFR Part 1425, Cooperative Marketing Associations; and
7 CFR Part 1434, Nonrecourse Marketing Assistance Loan and
LDP Regulations for Honey.
CCC plans to amend the applicable regulations to reflect changes
provided by the 2008 Farm Bill by August 31, 2008.
In addition, as a result of this notice, CCC will be able to
announce applicable 2008-crop loan rates, schedules of premiums and
discounts, and other related rates.
Environmental Review
FSA has determined that this change would not constitute a major
Federal action that would significantly affect the quality of the human
environment. Therefore, in accordance with the 7 CFR Part 799,
Environmental Quality and Related Environmental Concerns--
[[Page 32676]]
Compliance with the National Environmental Policy Act, implementing the
regulations of the Council on Environmental Quality (40 CFR parts 1500-
1508), no environmental assessment or environmental impact statement
will be prepared.
Signed at Washington, DC, on June 3, 2008.
Teresa C. Lasseter,
Executive Vice President, Commodity Credit Corporation.
[FR Doc. 08-1334 Filed 6-5-08; 12:00 pm]
BILLING CODE 3410-05-P