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 Your email will not be published or shared with third parties.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

    AFB Cotton Close: Not a Good Day for Prices5-6

    Southwest Cotton: Planting Betweens Rain, Cool Temps; Arizona Likes Pima – AgFax5-6

    Propane Stocks Still on the Rise5-6

    Gas Prices Jump Again5-6

    Diesel Prices Continue to Climb5-6

    DTN Cotton Close: Unable to Garner Bullish Traction5-6

    Weather: 17th Warmest April on Record for Continental U.S.5-6

    Arkansas: Crop Progress on Par with 5 Year Average5-6

    Illinois Diesel: Lower Per Acre Fuel Cost Likely5-6

    DTN Cotton Open: Contracts Unable to Rally5-6

    DTN Cotton Close: Minimal Trade Action5-5

    AFB Cotton Close: Weather Helps Farmers Catch Up5-5

    Texas Crop Weather: Cotton Farmers Face Price Quandary, Probably Plant Anyway5-5

    DTN Fertilizer Trends: Prices Stay Mostly Stable5-5

    10 Tips to Get the Most Out of Your Sprayer5-5

    Tennessee: Farmers Able to Get Back in Fields – USDA5-5

    Texas: Rain Delays, Hail Damage – USDA5-5

    New Mexico: Wheat in Mostly Poor Condition – USDA5-5

    Alabama: Producers Play Catch Up on Field Activities – USDA5-5

    Georgia: Producers Take Advantage of Dry Weather – USDA5-5

    South Carolina: Crops Progress at Steady Pace – USDA5-5

    DTN Cotton Open: Pressure in the New-Crop Market5-5

    Mississippi: Favorable Weather Allows for Planting, Spraying – USDA5-5

    Virginia: Wet Weather Delays Continue – USDA5-4

    Arkansas: Weather More Cooperative Toward Planting – USDA5-4

    Florida: Cotton, Peanut Planting Continue, Corn Wrapping Up – USDA5-4

    North Carolina: Mostly Good Week for Planting, Still Some Wet Spots – USDA5-4

    Crop Progress: Corn Planting Takes Off, Strong Start for Soybeans – DTN5-4

    AFB Cotton Close: Recovers Off Early Lows5-4

    DTN Cotton Close: Commercial Selling Triggers Speculative Buying5-4

    Kansas: Corn Planting Over 50% – USDA5-4

    California: Crops Progress While Dry Conditions Prevail – USDA5-4

    Louisiana: Some Wet, Some Dry, and a Little Bit of Hail – USDA5-4

    How Do Your Crop Costs Compare? USDA Offers Answers, 2013-20145-4

    DTN Cotton Open: Market Remains Bullish5-4

    Cleveland on Cotton: Gotta Love this Market5-1

    Rose on Cotton: Expect Improved Forward Contracting – Tread Carefully5-1

    USDA Announces Commodity Credit Corporation Lending Rates for May 20155-1

    Louisiana: Insect, Disease Management Critical as Ag Exports Increase5-1