CCC Rate Announced for January

CCC Rate Announced for January

Interest rates are mostly unchanged or lower.

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.

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