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Ag News
CCC Rates Announced for January
The U.S. Department of Agriculture's Commodity Credit Corporation has announced interest rates for January of 2009. The CCC borrowing rate-based charge is .625 percent – down from the December rate of 1.25 percent. The rate for 1996 and subsequent crop year commodity and marketing assistance loans is also down from December at 1.625 percent. The interest rate for farm storage facility loans approved for January has been lowered from 3 percent to 2.125 percent. The rate for sugar storage facility loans for January is down as well. The 3.5 percent is a decrease from the 4.5 interest rate last month.
The maximum discount rate applicable for January for the Tobacco Transition Payment Program is 5 percent, down from the 6 percent rate last month. This is based on the 3.25 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 This material may not be published, broadcast, rewritten, or redistributed.