The U.S. Department of Agriculture's Commodity Credit Corporation has announced interest rates for September 2008. The CCC borrowing rate-based charge is 2.25%, down from the August rate of 2.375. The rate for 1996 and subsequent crop year commodity and marketing assistance loans is also down from August at 3.25%.
The interest rate for farm storage facility loans approved for September is unchanged from the August rate of 3.625%. The interest rate for sugar storage facility loans for September is unchanged from last month at 4.5%.
The maximum discount rate applicable for September for the Tobacco Transition Payment Program is 7%, unchanged from August. This is based on the 5% prime rate plus 2%, rounded to the nearest whole number.
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