CCC Rates Announced for January

Interest rates are down across the board to start 2009.

The USDA's Commodity Credit Corporation has announced interest rates for January of 2009. The CCC borrowing rate-based charge is .625% — down from the December rate of 1.25%. The rate for 1996 and subsequent crop year commodity and marketing assistance loans is also down from December at 1.625%.

The interest rate for farm storage facility loans approved for January has been lowered from 3% to 2.125%. The rate for sugar storage facility loans for January is down as well. The 3.5% is a decrease from the 4.5 interest rate last month.

The maximum discount rate applicable for January for the Tobacco Transition Payment Program is 5%, down from the 6% rate last month. This is based on the 3.25% prime rate plus 2%, rounded to the nearest whole number.
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