I had no idea. Looks like I should get the manual for the loader; I wonder what else I don't know. This is my 1st tractor with a FEL.
Is that for being able to scoop dirt at ground level without gouging when the wheels are on uneven terrain?
No, I don't think you want to try and actually dig in float mode/position. It is used equally for back-dragging as you will discover with a little experience in the seat and also for "setting" the bucket height before you start to dig.
Once the bucket is dropped and hits the ground, then you set the curl of the bucket, take it OUT of float mode and dig in, in that order. It will all become second-nature quickly once you start to get the feel,,, err, I mean the FEL of it. Setting the bucket curl is the most difficult concept to grasp, for me anyway and is learned as you go. You will also need 4-wheel drive and a TON of weight where ever you can add it if you are going to dig virgin red clay or other dense soil. Watch youtubes; very good, clear and helpful videos imho.
One point that can't be stressed too much. It probably does not apply to a noob, but low and slow is the way to go with a bucket full of heavy. Heavy anything. That is doubly true if the ground is sloped. With a full bucket you will tip over faster than you would ever believe if the bucket is overhead and/or you are going too fast for load and conditions. Be Safe!