2011-12142. Grain Market News Reports; Request for Extension of a Currently Approved Information Collection

AGENCY:

Agricultural Marketing Service, USDA.

ACTION:

Request for comments.

SUMMARY:

In accordance with the Paperwork Reduction Act of 1995 (44 U.S.C. Chapter 35), this Notice announces the Agricultural Marketing Service's (AMS) intention to request approval from the Office of Management and Budget (OMB) for an extension of the currently approved information collection used to compile and generate grain market news reports.

DATES:

Comments must be received by July 18, 2011.

ADDRESSES:

Comments should be submitted electronically at http://www.regulations.gov. Comments may also be submitted to Mike Lynch, Chief, Livestock and Grain Market News Branch, Livestock and Seed Program, Agricultural Marketing Service, U.S. Department of Agriculture; STOP 0252; 1400 Independence Avenue, SW.; Room 2619-S; Washington, DC 20250-0252. All comments should reference docket number AMS-LS-11-0035 and note the date and page number of this issue of the Federal Register.

Submitted comments will be available for public inspection at http://www.regulations.gov or at the above address during regular business hours. Comments submitted in response to this Notice will be included in the records and will be made available to the public. Please be advised that the identity of the individuals or entities submitting the comments will be made public on the Internet at the above address.

FOR FURTHER INFORMATION CONTACT:

Mike Lynch, Chief, Livestock and Grain Market News Branch, AMS, USDA, by telephone at [phone], or e-mail at: [e-mail].

SUPPLEMENTARY INFORMATION:

Title: Grain Market News Reports.

OMB Number: 0581-0005.

Expiration Date of Approval: 11-30-2011.

Type of Request: Extension of a currently approved information collection.

Abstract: The Agricultural Marketing Act of 1946 (7 U.S.C. 1621—1627) directs and authorizes the collection and dissemination of marketing information, including adequate outlook information, on a market area basis, for the purpose of anticipating and meeting consumer requirements, aiding in the maintenance of farm income, and to bring about a balance between production and utilization.

The grain industry has requested that USDA continue to issue market news reports on grain. These reports are compiled by AMS on a voluntary basis in cooperation with the grain and feed industry. Market news reporting must be timely, accurate, and continuous if it is to be useful to producers, processors, and other stakeholders. Industry traders can use market news information to make marketing decisions on when and where to buy and sell. For example, a producer could compare prices being paid at local, terminal, or export elevators to determine which location will provide the best return. Some traders might choose to chart prices over a period of time in order to determine the most advantageous day of the week to buy or sell, or to determine the most favorable season. In addition, the reports are used by other Government agencies to evaluate market conditions and calculate price levels, such as USDA's Farm Service Agency that administers the Farmer-owned Reserve Program. Economists at most major agricultural colleges and universities use the grain and feed market news reports to make short and long-term market projections. Also, the Government is a large purchaser of grain and related products. A system to monitor the collection and reporting of data is crucial to ensuring fair and equitable prices are paid.

The information must be collected, compiled, and disseminated by an impartial third party, in a manner which protects the confidentiality of the reporting entity. AMS is in the best position to provide this service.

Estimate of Burden: Public reporting burden for this collection of information is estimated to average .0333 hours per response.

Respondents: Business or other for-profit entities, individuals or households, farms, and the Federal Government.

Estimated Number of Respondents: 160.

Estimated Number of Responses: 1,680.

Estimated Number of Responses per Respondent: 11.

Estimated Total Annual Burden on Respondents: 56 hours.

Comments are invited on: (1) Whether the proposed collection of information is necessary for the proper performance of the functions of the Agency, including whether the information will have practical utility; (2) the accuracy of the Agency's estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used; (3) ways to enhance the quality, utility, and clarity of the information to be collected; and (4) ways to minimize the burden of the collection of information on those who are to respond, including the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology.

All responses to this document will be summarized and included in the request for OMB approval. All comments will become a matter of public record.

Dated: May 12, 2011.

David R. Shipman,

Acting Administrator, Agricultural Marketing Service.