NEWS
Ag Policy Blog
Chris Clayton DTN Ag Policy Editor
Sat Oct 19, 2013 01:44 PM CDT

A bi-partisan group of 15 senators from southern states want to know why USDA applied sequestration reductions to Marketing Assistance Loans.

USDA sent out a notice Sept. 30 stating that marketing loans would be reduced by 5.1% and loans would be delayed while software is updated.

Fourteen of the senators stated in a letter to Agriculture Secretary Tom Vilsack that cutting the loan would hurt farmers and businesses by "substantially reducing cash flow during harvest which make require some to secure unanticipated loans from other, more costly credit sources." Further, there would be income losses for growers who have forward ...

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