The U.S. Department of Agriculture’s (USDA) Commodity Credit Corporation this past week announced the 2022 crop loan rate differentials for upland and extra-long staple cotton which are applied to the crop loan rate to determine the per bale actual loan rate.The differentials, also referred to as loan rate premiums and discounts, were calculated based on market valuations of various cotton quality factors for the prior three years. This calculation procedure is identical to that used in past years.The 2022 crop differential schedules are applied to 2022 crop loan rates of 52 cents per pound for the base grade of upland ...