1997 PRODUCTION FLEXIBILITY CONTRACTS Release No. 0633.96 Tom Amontree (202) 720-4623 Tamontree@usda.gov Dann Stuart (202)690-6734 Dstuart@fsa.usda.gov ADVANCE PAYMENT RATES ANNOUNCED FOR 1997 PRODUCTION FLEXIBILITY CONTRACTS WASHINGTON, Dec. 11, 1996 -- Secretary of Agriculture Dan Glickman today announced producers will soon receive advance 1997 Commodity Credit Corporation Production Flexibility Contract payments. The payment rates are the same as those estimated on April 26, 1996. 1997 ADVANCE PAYMENT RATES Commodity Units 50% 1995 Crop Total Advance Overpayment Wheat cents per bu 30.5 N/A 30.5 Corn cents per bu 16.5 13.0 29.5 Sorghum cents per bu 19.5 11.0 30.5 Barley cents per bu 12.5 N/A 12.5 Oats cents per bu 1.5 N/A 1.5 Upland Cotton cents per lb 3.7 N/A 3.7 Rice $ per cwt 1.37 N/A 1.37 The Secretary is required to make a 50-percent advance payment on December 15, 1996, or January 15, 1997, at the option of the producer. Corn and sorghum producers receive additional payments of 13 and 11 cents per bushel, respectively, based on the amount of 1995 crop deficiency payments required to be repaid. For advance payments to be issued in December, producers must submit all necessary signatures and documents by December 13, 1996. For January payments, signatures and documents must be submitted by January 15, 1997. Producers providing signatures and documents after January 15, 1997, are not eligible to receive advance payments in fiscal year 1997. All producers will receive final payments by September 30, 1997. Further program information is available from Bradley Karmen, telephone, (202) 720-4635; e-mail, bkarmen@wdc.fsa.usda.gov. # NOTE: USDA news releases and media advisories are available on the Internet. Access the USDA Home Page on the World Wide Web at http://www.usda.gov