The U.S. Department of Agriculture's Commodity Credit Corporation has announced interest rates for February 2011. The CCC borrowing rate-based charge is 0.25%, unchanged from January. The rate for 1996 and subsequent crop year commodity and marketing assistance loans is also unchanged for February at 1.25%.
The interest rates for Farm Storage Facility Loans approved for February 2011 are as follows: For a seven-year loan term the February figure is 2.75%, up from 2.5% in January; for loans with 10-year terms, the interest rate is 3.375%, up from 3.125% last month; and the interest rate for 12-year loan terms for February is 3.625%, up from 3.375% in January 2011.
The interest rate for Sugar Storage Facility Loans for February 2011 is up to 4.0%, compared to January's interest rate of 3.75%.
The maximum discount rate applicable for February 2011 for the Tobacco Transition Payment Program is 5%, unchanged from January 2011. This is based on the 3.25% prime rate plus 2%, rounded to the nearest whole number.