CCC Rates Announced for June
Interest rates across the board are lower.
Compiled by staff
Published: Jun 2, 2010
The U.S. Department of Agriculture's Commodity Credit Corporation has announced interest rates for June 2010. The CCC borrowing rate-based charge is 0.375%, down from 0.500% in May 2010. For 1996 and subsequent crop year commodity and marketing assistance loans the interest rate is down from May's 1.5% to 1.375%.
The interest rates for Farm Storage Facility Loans approved for June are as follows:
For a seven-year loan term the June figure is 3%, down from 3.25% in May 2010; for loans with 10-year loan terms the June rate is 3.625%, down from the May rate of 3.875%; and for 12-year loan terms, the interest rate for June is 3.875%, down from 4.125% in May.
The interest rate for Sugar Storage Facility Loans for June 2010 is down. The 3.375% rate is a decrease from 4.125% last month.
The maximum discount rate applicable for June 2010 for the Tobacco Transition Payment Program is 5%, unchanged from May. This is based on the 3.250% prime rate plus 2%, rounded to the nearest whole number.
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