USDA's Farm Service Agency (FSA) has unveiled a new streamlined process that's designed to make it easier for ag producers to receive loan deficiency payments (LDPs). In the past, some producers have been unable to collect LDPs because they lost beneficial interest in the commodity before completing the required paperwork.
Now producers will be able to fill out the new CCC-633 EZ form annually to express their intentions of receiving LDPs for eligible crops.
A producer must have beneficial interest in the commodity at the time the CCC-633 EZ is completed and submitted to the FSA office. A producer retains beneficial interest in the commodity if all of the following remain with the producer: control of the commodity, risk of loss; and title to the commodity.