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Agriculture

USDA announces CCC lending rates for January

WASHINGTON, D.C. — The U.S. Department of Agriculture's Commodity Credit Corporation (CCC) announced Jan. 2 interest rates for January 2014. The CCC borrowing rate-based charge for January 2014 is 0.125 percent, unchanged from 0.125 percent in December 2013.

The interest rate for commodity and marketing assistance loans disbursed during January 2014 is 1.125 percent, unchanged from 1.125 percent in December 2013.

Interest rates for Farm Storage Facility Loans approved for January 2014 are as follows, 2.250 percent with seven-year loan terms, up from 2.000 percent in December 2013; 2.875 percent with 10-year loan terms, up from 2.625 percent in December 2013 and; 3.000 percent with 12-year loan terms, up from 2.875 percent in December 2013. The interest rate for 15-year Sugar Storage Facility Loans for January 2014 is 3.375 percent, up from 3.125 percent in December 2013.

The maximum discount rate applicable for January 2014 for the Tobacco Transition Payment Program is 5 percent, unchanged from December 2013. This is based on the 3.250 percent prime rate plus 2 percent, rounded to the nearest whole number.

Further program information is available from USDA Farm Service Agency's (FSA) Financial Management Division at 202-772-6041.

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