Nebraska

As the Farm Security and Rural Investment Act of 2002 is slowly being absorbed in the minds of Nebraska's wheat producers, several questions come to mind of which some can be answered and some are still in the development stage. One of the most frequently asked questions is: When will I receive my program payments?

The Nebraska State FSA office has a time-line developed that helps answer that question. You must note that in order to qualify for farm program benefit payments you must first enroll your farm/unit and have your contract approved by your county FSA office.

The payment schedule is as follows:

--October 2002: County FSA offices began issuing 2002 Final Direct and 1st Advanced Counter-Cyclical payments for all crops.

--December 2002: County FSA offices begin issuing 2003 Advanced Direct payments for all crops.

--February 2003: County FSA offices will begin issuing 2002 2nd Advanced Counter-Cyclical payments for all crops.

--July 2003: County FSA offices begin issuing 2002 Final Wheat, Barley and Oats Counter-Cyclical payments.

--September 2003: County FSA offices begin issuing 2002 Final Rice, Cotton and Peanuts Counter-Cyclical payments.

--October 2003 County FSA offices begin issuing Final Corn, Grain Sorghum, and Soybean Counter-Cyclical payments.

Also: County FSA offices begin issuing 2003 1st Advanced Counter-Cyclical payments for all crops.

Also: County FSA offices begin issuing 2002 Final Corn, Grain Sorghum, and Soybean Counter-Cyclical payments for all crops.

--December 2003: County FSA offices begin issuing 2004 Advanced Direct payments for all crops.

--February 2004: County FSA offices begin issuing 2003 2nd Advanced Counter-Cyclical payments for all crops.

--July 2004: County FSA offices begin issuing 2003 Final Wheat, Barley and Oats Counter-Cyclical payments.

--September 2004: County FSA offices begin issuing Final Rice, Cotton and Peanuts Counter-Cyclical payments.

--October 2004: County FSA offices begin issuing 2003 Final Corn, Grain Sorghum and Soybean Counter-Cyclical payments.

Also: County FSA offices begin issuing 2004 Final Direct payments for all crops.

The Wheat Target Price for 2002-03 is $3.86 and for 2004-07 - $3.92.

The Wheat Loan Rate for 2002-03 is $2.80 and for 2004-07 - $2.75.

The Wheat Direct Payment for 2002-07 is $0.52.

The Wheat Production Flexibility Contract (PFC) for 2002 is $0.461.

The Wheat 2002 Direct minus PFC is $0.0590.

The Maximum Wheat Counter-Cyclical payment for 2002-03 is $0.54 and for 2004-07 $0.65

The Nebraska Wheat Board hopes this information is helpful in planning your cash flow projections. NWB administers the one and one quarter cent per bushel checkoff levied on wheat marketed in Nebraska. The Board invests the funds in programs of international and domestic market development and improvement, policy development, research, promotion and education.

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