The U.S. Department of Agriculture's Commodity Credit Corporation has announced interest rates for March 2009. The CCC borrowing rate-based charge is one-half% - up from the February rate of 0.375%. The rate for 1996 and subsequent crop year commodity and marketing assistance loans are also up from February at 1.5%.
The interest rate for farm storage facility loans approved for March has increased from the 1.875 February rate to 2.25%. The interest rate for sugar storage facility loans for March is up as well. The 3.75% is an increase from the 3.125 interest rate last month.
The maximum discount rate applicable for March for the Tobacco Transition Payment Program is 5%, unchanged from February. This is based on the 3.25% prime rate plus 2%, rounded to the nearest whole number.