USDA's Commodity Credit Corporation (CCC) today announced interest rates for June 2012. The borrowing rate-based charge for June is unchanged from last month at 0.125%. For 1996 and subsequent crop year commodity and marketing assistance loans, the interest rate for loands disburserd during June 2012 is also unchanged at 1.125%.
Interest rates for Farm Storage Facility Loans approved for June 2012 are as follows:
- 1.250% with seven-year loan terms, down from 1.500% in May 2012;
- 1.875% with 10-year loan terms, down from 2.125% in May 2012 and;
- 2.125% with 12-year loan terms, down from 2.375% in May.
The interest rate for Sugar Storage Facility Loans for June 2012 is 2.375%, down from 2.625% in May 2012. The maximum discount rate applicable for June 2012 for the Tobacco Transition Payment Program is 5%, unchanged from May 2012. This is based on the 3.250% prime rate plus 2%, rounded to the nearest whole number.