Farm Bill Update from SD Corn Executive Director, DaNita Murray
Welcome to Corn Comments. We are brought to you by the South Dakota Corn Utilization Council, a volunteer group of farmers who promote corn marketing in this state, the US, and around the globe.
The maximum loan amount for a direct farm ownership loan is $600,000 and the maximum loan amount for the down payment loan program is currently calculated at a little over $300,000. The direct down payment loan program is available to beginning farmers and ranchers. Unfortunately, these current limits for both programs have not kept pace with today's land prices and inflation. These loans are funded through congressional appropriations and not CCC spending, so an increase will not score against any Farm Bill baseline.
This has been a quick Farm Bill FYI. I'm DaNita Murray, Executive Director for South Dakota Corn.