CCC Raises Interest Rates for July

July 2, 2012 04:05 AM
 

USDA's Commodity Credit Corporation (CCC) today announced interest rates for July 2012. The CCC borrowing rate-based charge for July 2012 is 0.250%, up from 0.125% in last month. For 1996 and subsequent crop year commodity and marketing assistance loans, the interest rate for loans disbursed during July 2012 is 1.250%, up from 1.125% in June.

In accordance with the 2008 Farm Bill, interest rates for Farm Storage Facility Loans approved for July 2012 are as follows: 1.125% with seven-year loan terms, down from 1.250% in June; 1.625% with 10-year loan terms, down from 1.875%; and 1.875% with 12-year loan terms, down from 2.125%. The interest rate for Sugar Storage Facility Loans for July 2012 is 2.125%, down from 2.375% in June 2012.

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

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