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Ag News
CCC Rates Announced for December
The U.S. Department of Agriculture's Commodity Credit Corporation has announced interest rates for December 2008. The CCC borrowing rate-based charge is 1.25 percent – down from the November rate of 1.5 percent. The rate for 1996 and subsequent crop year commodity and marketing assistance loans is also down from November at 2.25 percent. The interest rate for farm storage facility loans approved for December is also down from the 4.375 November rate at 3.0 percent. The interest rate for sugar storage facility loans is up. The 4.5 percent rate is an increase from the 4.375 interest rate last month.
The maximum discount rate applicable for December for the Tobacco Transition Payment Program is 6 percent, unchanged from November 2008. This is based on the 4 percent prime rate plus 2 percent - rounded to the nearest whole number.
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- © 2008 Rural Radio Network. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.