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Moniteau/Morgan County, MO USDA Service Center News - April 30, 2025

In This Issue:

• Important Dates to Remember
• Beginners Guide to Crop Insurance
• Highly Erodible Land (HEL) and Wetland Conservation Compliance
• Preauthorized Debit Available for Farm Loan Borrowers
• April Interest Rates

Important Dates to Remember

May 26, 2025 - Memorial Day Holliday - USDA Service Centers Closed 

July 15, 2025 - Crop Reporting Deadline

August 15, 2025 - ECAP Signup Deadline

FSA COC Meeting – Monthly
Tuesday, May 20, 2025 - 8:30 am

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Beginners Guide to Crop Insurance

Don’t know much about Federal crop insurance, but you want to learn more?

Crop insurance is a risk management strategy that farmers use to protect their livelihoods. By purchasing a policy through a crop insurance agent, farmers are financially protected if there are losses due to a covered cause of loss. It’s not so different from car or homeowners insurance.

Start your journey out right by reading RMA’s Beginners Guide to Crop Insurance.

Highly Erodible Land (HEL) and Wetland Conservation Compliance

Landowners and operators are reminded that in order to receive payments from USDA, compliance with Highly Erodible Land (HEL) and Wetland Conservation (WC) provisions are required. Farmers with HEL determined soils are reminded of tillage, crop residue, and rotation requirements as specified per their conservation plan. Producers are to notify the USDA Farm Service Agency prior to breaking sod, clearing land (tree removal), and of any drainage projects (tiling, ditching, etc.) to ensure compliance. Failure to update certification of compliance, with form AD-1026, triggering applicable HEL and/or wetland determinations, for any of these situations, can result in the loss of FSA farm program payments, FSA farm loans, NRCS program payments, and premium subsidy to Federal Crop Insurance administered by RMA.

Preauthorized Debit Available for Farm Loan Borrowers

USDA’s Farm Service Agency (FSA) has implemented pre-authorized debit (PAD) for Farm Loan Program (FLP) borrowers. PAD is a voluntary and alternative method for making weekly, bi-weekly, monthly, quarterly, semi-annual or annual payments on loans.

PAD payments are pre-authorized transactions that allow the National Financial and Accounting Operations Center (NFAOC) to electronically collect loan payments from a customer’s account at a financial institution.

PAD may be useful if you use nonfarm income from regular wages or salary to make payments on loans or adjustment offers or for payments from seasonal produce stands. PAD can only be established for future payments.

To request PAD, customers, along with their financial institution, must fill out form RD 3550-28. This form has no expiration date, but a separate form RD 3550-28 must be completed for each loan to which payments are to be applied. A fillable form can be accessed on the USDA Rural Development (RD) website at rd.usda.gov/publications/regulations-guidelines. Click forms and search for “Form 3550-28.”

If you have a “filter” on the account at your financial institution, you will need to provide the financial institution with the following information: Origination ID: 1220040804, Agency Name: USDA RD DCFO.

PAD is offered by FSA at no cost. Check with your financial institution to discuss any potential cost. Preauthorized debit has no expiration date, but you can cancel at any time by submitting a written request to your local FSA office. If a preauthorized debit agreement receives three payment rejections within a three-month period, the preauthorized debit agreement will be cancelled by FSA. The payment amount and due date of your loan is not affected by a cancellation of preauthorized debit. You are responsible to ensure your full payment is made by the due date.

For more information about PAD, contact your Cole County USDA Service Center at 573-893-5196 or visit fsa.usda.gov.

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April Interest Rates

Rates Effective April 1, 2025

Farm Storage Facility Loan: 3-year term: 4.000%
Farm Storage Facility Loan: 5 -year term: 4.125%
Farm Storage Facility Loan: 7-year term: 4.125%
Farm Storage Facility Loan: 10-year term: 4.250%
Farm Storage Facility Loan: 12-year term: 4.375%

Direct Farm Operating: 5.375%
Direct Farm Ownership: 5.750%
Direct Farm Ownership-Joint Financing: 3.750%
Beginning Farmer Down Payment: 1.750%

Commodity Loans: 5.125%

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