The U.S. Department of Agriculture's Commodity Credit Corporation has announced interest rates for January of 2010. The CCC borrowing rate-based charge is unchanged from December at 0.375%. The rate for 1996 and subsequent crop year commodity and marketing assistance loans is also unchanged from December at 1.375%.
The interest rates for Farm Storage Facility Loans approved for January are as follows: for a seven-year loan term the January figure is 2.875% compared to last month's 3.0%; for loans with 10-year terms, the interest rate is 3.375% compared to last month's 3.5%; and the interest rate for 12-year loan terms for January is 3.75% and that's unchanged from the previous month.
The interest rate for Sugar Storage Facility Loans for January 2010 is down. The 4.0% rate is a decrease from the 4.125% interest rate last month.
The maximum discount rate applicable for January 2010 for the Tobacco Transition Payment Program is 5%, unchanged from December 2009. This is based on the 3.25% prime rate plus 2%, rounded to the nearest whole number.