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U.S. Field Pea Loan Rate Neutral
WASHINGTON - Sep 4/02 - STAT -- Loan rates for 2002 crop field peas grown in the United States were set at levels which appear neutral from an historic marketing perspective.
The dry pea loan rate of U.S. $6.33 per 100 pounds (cwt) will apply nationwide. Low-quality dry peas will be eligible for a nonrecourse loan at a reduced loan rate. The loan rate discounts per cwt for grades lower than grade No 1 are $0.50 for grade No 2; $1.00 for grade No 3; and $2.50 for sample grade. All grades of dry peas will receive the same loan deficiency payment rate.
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