USDA Announces Commodity Credit Corporation Lending Rates for May

May 1, 2012 05:01 AM
 

USDA's Commodity Credit Corporation (CCC) today announced its May 2012 interest rates are unchanged from April at 0.125%. For 1996 and subsequent crop year commodity and marketing assistance loans, the interest rate for loans disbursed during May 2012 is 1.125%, unchanged from last month.

In accordance with the 2008 Farm Bill, interest rates for Farm Storage Facility Loans approved for May 2012 are as follows: 1.500% with seven-year loan terms (unchanged from April); 2.125% with 10-year loan terms (unchanged); and 2.375% with 12-year loan terms (unchanged). The interest rate for Sugar Storage Facility Loans for May 2012 is 2.625%, unchanged from month-ago.

The maximum discount rate applicable for May 2012 for the Tobacco Transition Payment Program is 5%, unchanged from April. This is based on the 3.250% prime rate plus 2%, rounded to the nearest whole number.

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