Agfax Buzz:
    September 5, 2013
    usda_logo

    USDA: New ELS Cotton Payment Rate Is 0

    AgFax.Com - Your Online Ag News Source

    From USDA

    The Department of Agriculture’s Commodity Credit Corporation announced that the competitiveness payment program payment rate in effect from 12:01 a.m., Eastern Time, Friday, September 6, 2013, through midnight, Eastern Time, Thursday, October 3, 2013, is zero. The next ELS payment rate announcement will be on October 3, 2013, at 4 p.m., Eastern Time.




    ELS competitiveness payments are provided whenever, for 4 consecutive weeks, the lowest Friday through Thursday average adjusted price quotation for foreign growths (LFQ) is less than the Friday through Thursday average price quotation for U.S. Pima cotton, CFR Far East (USPFE); and the adjusted LFQ is less than 134 percent of the current crop year loan level for ELS cotton grade 2, staple 46, micronaire 3.5 or higher, strength 37.5 grams per tex and above (82.05 cents per pound).

    Future payments will be established if price conditions warrant. Relevant data for the ELS competitiveness program follow:

    Adjusted

    Fri/Thurs  LFQ as %                    USPFE

    Period     of ELS    USPFE     LFQ     Less  Payment    Dates

    Ending    Loan Rate  Price    Price    LFQ    Rate    Applicable

    ………. cents/lb ………..

    08/15/13    188.58   172.00   172.56   -0.56   0.00    (08/16-08/22)

    08/22/13    190.77   173.20   174.36   -1.16   0.00    (08/23-08/29)

    08/29/13    192.05   175.00   175.41   -0.41   0.00    (08/30-09/05)

    09/05/13    192.36   175.00   175.66   -0.66   0.00    (09/06-10/03)

     

    The adjusted LFQ = LFQ adjusted for the transportation cost between the United States and the Far East.

    To obtain an ELS agreement or to inquire regarding operational issues, please contact Richard Mashek, Kansas City Commodity Office at (816) 823-1134 or by e-mail Richard.Mashek@kcc.usda.gov


    Tags: , , ,

    Leave a Reply

    Name and Email Address are required fields. Your email will not be published or shared with third parties.

    Agfax Cotton News

    Mississippi: MSU Wild Hog Research Needs Foresters, Farmers7-29

    Texas Crop Weather: Fall Armyworms Out Early Due to Unseasonable Rains7-29

    Virginia Cotton: 1 Spray or 2 for Insects?7-29

    Georgia Cotton: Spots Found on Lower Leaves7-29

    DTN Cotton Open: Trades Lower in Early Going7-29

    Mississippi: Bollworm Counts at High Levels7-29

    Alabama Cotton: Spider Mite Control Proves Tricky7-29

    Keith Good: Bugs’ Resistance to GMO Corn in Brazil Proving Costly7-29

    California: Over 75% of Cotton Has Set Bolls – USDA7-28

    Virginia: Tornado Damages Crop, Conditions Lower Than Last Year7-28

    Doane Cotton Close: Rebounds from Oversold Conditions7-28

    Arkansas: Rice Heading, Heat Units Need in Some Areas – USDA7-28

    Mississippi: Crops Look Good, Rains Prevent Some Field Work – USDA7-28

    Oklahoma: Crop Conditions Positive Despite Triple-Digit Temps – USDA7-28

    Texas: Cotton Squaring, Forming Bolls, Sugarcane Aphids Will in Sorghum – USDA7-28

    Alabama: Scattered Rainfall, Army Worms In Certain Areas – USDA7-28

    North Carolina: Rains Benefit Crops, Slow Field Work – USDA7-28

    AFB Cotton Close: Moves Higher in Narrow Range7-28

    Crop Progress: Corn, Soybean Conditions Decline, Still at Historical Highs – DTN7-28

    Arizona: Cotton Squaring Complete, Winter Wheat Harvested – USDA7-28

    DTN Cotton Close: Higher on Suspected Weekend Business7-28

    Tennessee: Keeping Up with Insecticide Names, Ingredients7-28

    Florida: Corn Harvest Slowed by Wet Conditions – USDA7-28

    DTN Fertilizer Outlook: Domestic Ammonia Prices Down Slightly7-28

    DTN Cotton Open: Trades Modestly Ahead7-28

    Tennessee Cotton: Crunch Time for Insect Management7-28

    Flint on Crops: Challenges for Farmers Keep Coming, Keep Changing7-28

    Kentucky: Biosolids Becoming Viable Fertilizer Option7-28

    Keith Good: July 1 Cattle, Calf Inventory Comes in at Historic Low7-28

    California Cotton Moving Quickly, Aphids And Whitefly Around – AgFax7-27

    California Cotton: Crop Setting Up Along 2 Very Different Paths7-26

    California Cotton: Heat Effects, PGR Decisions7-26

    Texas Cotton: Lygus Uptick Noted – Hale And Swisher Counties7-26

    USDA Commentary: Weekly Cotton Markets, Weather by Region7-25

    Rose on Cotton: No Pleasure in this Market Made for Bears7-25

    Georgia Cotton: Aphids Down, Plant Bugs Still Around7-25

    Doane Cotton Close: Futures Continue Lower After Midweek Rally7-25

    South Carolina Cotton, Soybeans: Insects on the Rise7-25

    Mississippi Cotton: Transform Efficacy on Aphids Decreases with Cool Temps7-25

    AFB Cotton Close: Sell-Off Continues7-25