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Interest Rates Are Down

The U.S. Department of Agriculture's Commodity Credit Corporation has announced interest rates for February 2009. The CCC borrowing rate-based charge is 0.375%, down from the January rate of 0.625%. The rate for 1996 and subsequent crop year commodity and marketing assistance loans is also down from January at 1.75%.

The interest rate for farm storage facility loans approved for February has dropped from the 2.125% January rate to 1.875%. The rate for sugar storage facility loans for February is down as well. The 3.125% rate is a reduction from the 3.5% interest rate last month.

The maximum discount rate applicable for February for the Tobacco Transition Payment Program is 5%, unchanged from January. This is based on the 3.25% prime rate plus 2% - rounded to the nearest whole number.