[Federal Register Volume 73, Number 112 (Tuesday, June 10, 2008)]
[Notices]
[Pages 32675-32676]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 08-1334]


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DEPARTMENT OF AGRICULTURE

Commodity Credit Corporation


2008-Crop Marketing Assistance Loans and Loan Deficiency Payments 
for Loan Commodities Except Cotton and Peanuts

AGENCY: Commodity Credit Corporation, USDA.

ACTION: Notice.

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SUMMARY: The Commodity Credit Corporation (CCC) will extend Marketing 
Assistance Loans (MAL) and Loan Deficiency Payments (LDP) for the 2008 
crop. The loan commodities covered by this Federal Register Notice 
include: wheat, corn, grain sorghum, barley, oats, soybeans, rice, 
sunflower seed, rapeseed, canola, safflower, flaxseed, mustard seed, 
crambe, sesame seed, graded and non-graded wool, mohair, honey, dry 
peas, lentils, and small chickpeas. As a result of this notice, CCC 
will be able to commence administration of 2008-crop MAL and LDP 
provisions and announce applicable 2008-crop loan rates, schedules of 
premiums and discounts, and other related rates.

DATES: Effective Date: June 5, 2008.

FOR FURTHER INFORMATION CONTACT: Candace Thompson, Director, Price 
Support Division, Farm Service Agency, USDA, STOP 0512, 1400 
Independence Avenue, SW., Washington, DC 20250-0512; telephone: (202) 
720-7901 or fax: (202) 690-3307; e-mail: [email protected]. 
Persons with disabilities who require alternative means for 
communication (Braille, large print, audiotape, etc.) should contact 
the USDA Target Center at (202) 720-2600 (voice and TDD).

SUPPLEMENTARY INFORMATION: 
    CCC administers the loan program including MAL and LDP, which 
provides short-term financing to allow farmers to pay their bills soon 
after harvest and facilitate orderly marketing throughout the rest of 
the year. The loan program also provides significant income support 
when market prices are below statutory loan rates. Current regulations 
for MAL and LDP apply to the 2002 through 2007 crop years.
    The Food, Conservation, and Energy Act of 2008 (Pub. L. 110-234) 
(2008 Farm Bill) authorized the continuation of MAL and LDP, under the 
regulations found at 7 CFR parts 1421, 1425, and 1434, for all loan 
commodities for the 2008 through 2012 crops.
    With the pending harvest of 2008-crop loan commodities, this notice 
announces that CCC will implement immediately MAL and LDP provisions 
for 2008-crop wheat, corn, grain sorghum, barley, oats, soybeans, rice, 
sunflower seed, rapeseed, canola, safflower, flaxseed, mustard seed, 
crambe, sesame seed, graded and non-graded wool, mohair, honey, dry 
peas, lentils, and small chickpeas based on the current regulation in:
     7 CFR Part 1421, Grains and Similarly Handled 
Commodities--Marketing Assistance Loans and Loan Deficiency Payments 
for the 2002 through 2007 Crop Years;
     7 CFR Part 1425, Cooperative Marketing Associations; and
     7 CFR Part 1434, Nonrecourse Marketing Assistance Loan and 
LDP Regulations for Honey.
    CCC plans to amend the applicable regulations to reflect changes 
provided by the 2008 Farm Bill by August 31, 2008.
    In addition, as a result of this notice, CCC will be able to 
announce applicable 2008-crop loan rates, schedules of premiums and 
discounts, and other related rates.

Environmental Review

    FSA has determined that this change would not constitute a major 
Federal action that would significantly affect the quality of the human 
environment. Therefore, in accordance with the 7 CFR Part 799, 
Environmental Quality and Related Environmental Concerns--

[[Page 32676]]

Compliance with the National Environmental Policy Act, implementing the 
regulations of the Council on Environmental Quality (40 CFR parts 1500-
1508), no environmental assessment or environmental impact statement 
will be prepared.

    Signed at Washington, DC, on June 3, 2008.
Teresa C. Lasseter,
Executive Vice President, Commodity Credit Corporation.
[FR Doc. 08-1334 Filed 6-5-08; 12:00 pm]
BILLING CODE 3410-05-P