Cotton Loan Forfeiture Charges/Procedures for ELS Cotton

Based on recent discussions with USDA officials, there are important clarifications on the charges or fees a producer is responsible for when warehouse-stored Pima cotton is forfeited to USDA. In general, the calculations on cotton forfeiture charges are the same for both Pima and upland cotton. If Pima cotton is forfeited to USDA, the producer is only responsible for paying the difference in the Cotton Storage Agreement (CSA) storage rate for the warehouse and the USDA storage credit for the time the cotton is under loan, not the full storage costs for the time the cotton is under loan. For anytime the cotton is not under loan, the producer is responsible for paying the full warehouse storage rate.

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More Advocacy Issues

On September 14th, the House Ways and Means Committee held a hearing titled, “The Future of U.S.-Taiwan Trade.” There were four witnesses, including Texas Farm Bureau President Russell Boening. Summary here.

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ACSA would like to thank Betsy Olim, host of Export Stories Podcast, for dedicating an episode on cotton. The episode focuses on current challenges faced by the cotton industry and ACSA’s advocacy efforts to increase efficiency and security for our supply chain.  Podcast here.

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On August 3rd, Chairwoman of the Senate Agriculture Committee Debbie Stabenow (D-MI) and Ranking Member John Boozman (R-AR) along with Senators Cory Booker (D-NJ) and John Thune (R-SD) introduced the Digital Commodities Consumer Protection Act of 2022 to give the Commodity Futures Trading Commission new tools and authorities to regulate digital commodities.  Summary here.

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On June 20th, the House Agriculture Committee Subcommittee on General Farm Commodities and Risk Management held a hearing entitled “A 2022 Review of the Farm Bill: Stakeholder Perspectives on Title XI Crop Insurance.”  Summary here.

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On June 17th, the Senate Agriculture Committee held a hearing in Committee Ranking Member John Boozman’s home state of Arkansas entitled, “2023 Farm Bill: Perspectives from the Natural State.” ACSA would like to thank American Cotton Producers (ACP) Chairman Nathan Reed for sharing his perspectives on important topics going into the next Farm Bill, including […]

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House Ag Discusses Climate

June 15th, 2022

On June 15th, the House Agriculture Committee held a hearing entitled “The Role of Climate Research in Supporting Ag Resiliency.” Please see link below for key takeaways provided by Delta Strategy Group. Takeaways here.

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