CCC Rates Announced for January

CCC Rates Announced for January

Interest rates are unchanged to higher.

The USDA's Commodity Credit Corporation has announced interest rates for January 2011. The CCC borrowing rate-based charge is 0.25%, unchanged from December 2010. The rate for 1996 and subsequent crop year commodity and marketing assistance loans is also unchanged from December 2010; the interest rate for loans disbursed during January 2011 is 1.25%.

The interest rate for farm storage facility loans approved for January is as follows: For a seven-year loan term the January figure is 2.5% and that compares to last month's rate of 2.0%. For a 10-year loan term the January figure is 3.125%. That's up from 2.75% in December 2010.  And the 12-year loan term rate is 3.375%, up from 3.0% in December.

The interest rate for Sugar Storage Facility Loans for January is up. The 3.75% rate is up from 3.375% in December 2010.

The maximum discount rate applicable for January 2011 for the Tobacco Transition Payment Program is 5%, unchanged from December 2010. This is based on the 3.250% prime rate plus 2%, rounded to the nearest whole number.

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