USDA Awards Ten-Thousandth Grain License under U.S. Warehouse ActThu, 17 Nov 2011 13:02:23 CST
USDA Farm Service Agency Administrator Bruce Nelson announced today the issuance of the ten-thousandth grain license under the United States Warehouse Act (USWA). DeBruce Grain Elevator in Avalon, Wis., received the landmark license.
"USDA is proud to share this important occasion with the industry," said Nelson. "The federal warehouse licensing program administered under the United States Warehouse Act has been an integral part of the agricultural landscape for nearly 100 years. I'm pleased to commend all USWA-licensed warehouse operators by honoring USWA grain license number 10,000."
The USWA gives the U.S. Secretary of Agriculture the authority to license any warehouse operator engaged in storing agricultural products meant for interstate or foreign commerce. This licensing program is one of USDA's oldest active programs, and in its 95 years of service to domestic agricultural product warehousing, the USWA has provided the authority for effective regulation of the industry through warehouse operator financial stability, the unannounced examination, and most of all, the warehouse receipt.
USWA authority covers licensing and examinations of public warehouses and provides service licenses to qualified individuals to sample, inspect, weigh and classify agricultural products. USDA is also responsible for regulating the establishment and maintenance of electronic systems under which electronic documents (including title documents related to the shipment, payment and financing) may be issued or transferred for any agricultural product.
As of Nov. 17, 2011, nearly 60 percent of all commercial grain warehouse capacity in the United States is licensed under the USWA, representing a capacity of just under five-billion bushels. Licenses under the USWA also are available for nuts, cotton, cottonseed, dry edible beans, honey and wool.
The USWA is administered by the FSA's Deputy Administrator for Commodity Operations. As of Nov. 17, 2011, there are 50 field examiners strategically located throughout the U.S. that carry out examination activities.
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