Farmers and other landowners with base acres and yields have until Aug. 3 to enroll in the 2007 Direct and Counter-cyclical Payment Program.
Producers enrolling base acres after Aug. 3 and by close of the business day on Sept. 28 will be charged a $100 late fee for each farm enrolled, says Brian Wolford, Farm Service Agency state executive director.
FSA's electronic Direct and Counter-cyclical Payment Program service allows producers to enroll in DCP online and gives them until Sept. 30, with the late fee, to enroll acres. With eDCP, producers can choose DCP payment options, assign crop shares and sign and submit their contracts from any computer with Internet access. The service does not alter any DCP provisions.
"Direct payments are paid regardless of the market price of the commodity," says Wolford.
Counter-cyclical payments serve as an insurance policy when prices drop below the effective price for each enrolled commodity, he says. For each commodity, the direct payment for each crop year equals 85% of the farm's base acreage times the farm's direct payment yield times the direct payment rate.
DCP is scheduled to end Sept. 30, with the conclusion of the 2007 Farm Bill.
Additional information about the final date for DCP enrollment can be obtained at any county FSA office.