Warehouse Rates for Peanuts Pledged as Collateral for a Marketing Assistance Loan, 46184 [E6-13206]

Agencies

• DEPARTMENT OF AGRICULTURE
• Commodity Credit Corporation

[Federal Register Volume 71, Number 155 (Friday, August 11, 2006)]
[Notices]
[Page 46184]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-13206]


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Federal Register / Vol. 71, No. 155 / Friday, August 11, 2006 / 
Notices

[[Page 46184]]



DEPARTMENT OF AGRICULTURE

Commodity Credit Corporation


Warehouse Rates for Peanuts Pledged as Collateral for a Marketing 
Assistance Loan

AGENCY: Commodity Credit Corporation, USDA.

ACTION: Notice.

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SUMMARY: This notice advises warehouse operators operating under a 
Commodity Credit Corporation (CCC) Peanut Storage Agreement of the 
storage and handling rates applicable to the 2006 crop of peanuts.

EFFECTIVE DATE: August 11, 2006.

FOR FURTHER INFORMATION CONTACT: Any questions about this notice may be 
directed to Mark Overbo, Deputy Director, Warehouse and Inventory 
Division, Farm Service Agency, USDA, STOP 0553, 1400 Independence 
Avenue, SW., Washington, DC 20250-0553. Telephone: (202) 720-4647. E-
mail: mark.overbo@wdc.usda.gov.
    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: The marketing assistance loan program for 
peanuts was authorized by the Farm Security and Rural Investment Act of 
2002 (7 U.S.C. 7901 et seq., May 13, 2002) (``2002 Act''). Section 
1307(a)(6) of the 2002 Act (7 U.S.C. 7957(a)(6)) requires CCC to pay 
storage, handling, and other associated costs for the 2002 through 2006 
crops of peanuts that are pledged as collateral for marketing 
assistance loans. Further, CCC regulations governing the marketing 
assistance loan program at 7 CFR 1421.103 provide that, ``* * * 
approved warehouse storage shall consist of a public warehouse for 
which a CCC storage agreement for the commodity is in effect that is 
approved by CCC for price support purposes.'' Thus, for a warehouse 
with an approved Peanut Storage Agreement (Form CCC-22), CCC will pay 
for receiving, storing, and other charges.
    The Peanut Storage Agreement provides that the amounts payable by 
CCC will be at the rates stated in the Schedule of Rates (Form CCC-22-
2) in effect when the services are performed, unless otherwise 
provided. In lieu of amending the Schedule of Rates CCC is issuing this 
notice to announce those rates that CCC will pay for storage, handling, 
and other associated costs for the 2006 crop of peanuts. Accordingly, 
the rates that CCC will pay for the 2006 crop of peanuts for those 
warehouses with an approved Peanut Storage Agreement are as follows:

A. Receiving.

    CCC will pay $30.00 per ton receiving charges associated with 
warehouse-stored loans directly to the warehouse after the loan has 
been disbursed, plus the per ton initial grading and inspection fee as 
determined by the Federal State Inspection Service (FSIS).

B. Initial Grading and Inspection.

    The per ton initial grading and inspection fees as determined by 
FSIS for the 2006 crop year are: $5.75 Alabama, $5.90 Florida, $5.20 
Georgia, $7.00 Mississippi, $5.50 New Mexico, $6.75 North Carolina, 
$7.35 Oklahoma, $7.00 South Carolina, $5.00 Texas, and $7.95 Virginia. 
CCC will pay the warehouse the rate for the applicable State, based on 
the location of the buying point.

C. Storage.

    Storage amounts may be earned at the rate of $.089 per ton per day, 
based on a monthly storage rate of $2.71 per ton. Accrued storage 
charges will be deducted from the CCC loan repayment amount. In the 
event peanuts are forfeited to CCC, storage charges will be paid by CCC 
through the loan maturity date for the quantity forfeited, from the 
later of the following: (1) The date the peanuts are received or 
deposited in the warehouse; (2) the date the storage charges start; (3) 
the day following the date through which storage charges have been 
paid; (4) the date all required marketing assistance loan documents are 
received in the county office. Subsequent payments for the storage of 
CCC-owned peanuts will be made based on the schedule as provided in the 
Peanut Storage Agreement.

D. Loadout.

    The loadout rate of $8.00 per ton includes all items associated 
with loading out CCC-loan or CCC-owned peanuts, including weighing and 
placing peanuts aboard railcars or trucks. CCC will pay loadout charges 
only when this service is ordered by CCC.

E. Receiving Charges for CCC-Owned Peanuts.

    CCC will pay $8.00 per ton receiving charges associated with the 
delivery of CCC-owned peanuts. Other charges, including but not limited 
to inspection charges, are included in the CCC-loan receiving charge 
previously paid according to paragraph A. of this notice.

    Signed at Washington, DC, August 3, 2006.
Teresa C. Lasseter,
Executive Vice President, Commodity Credit Corporation.
 [FR Doc. E6-13206 Filed 8-10-06; 8:45 am]
BILLING CODE 3410-05-P