Commodity certificates
- Dennis Daggett (Deactivated)
Commodity certificates, issued by the Commodity Credit Corporation (CCC), can be purchased at the posted county price for wheat, feed grains, and oilseeds or at the effective adjusted world price for rice or upland cotton. The certificates are available for producers to use immediately in acquiring crop collateral they pledged to the CCC for a commodity loan. When the posted county price or effective adjusted world price is below the loan rate, producers who are facing payment limits can benefit from the lower loan repayment rates. The use of commodity certificates to repay loans ends after the 2009 crop year. Certificates were also used during the mid-1980s in lieu of cash to compensate program beneficiaries and to reduce the large, costly, and price-depressing commodity surpluses held by the CCC.
Authorization Path: 1.1.1.1.55.0