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USDA Sets March Lending Rates
WASHINGTON - Mar 1/06 - SNS -- The USDA's Commodity Credit Corporation boosted interest rates which need to be paid on commodity loans it has disbursed.
The interest rate for 1995 and prior crop year commodity loans during March 2006 is 4.625%, up from 4.375% in February 2006.
For 1996 and subsequent crop year commodity and marketing assistance loans, the interest rate for loans disbursed during March 2006 is 5.625%, up from 5.375% in February 2006.
The interest rate for farm storage facility loans approved in March 2006 is 4.500%, up from 4.375% in February 2006. The interest rate for sugar storage facility loans for March 2006 is 4.625%, up from 4.500% in February 2006.
The maximum discount rate applicable for March 2006 for the Tobacco Transition Payment Program is 10.0%. This is based on the prime rate 7.50% plus 2%, rounded to the nearest whole number.
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