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USDA Sets August Interest RatesWASHINGTON - Aug 1/06 - SNS -- Interest rates for 1995 and prior crop year commodity loans disbursed by USDA's Commodity Credit Corporation (CCC) during August 2006 is 5.250%, up from 5.125% in July 2006. For 1996 and subsequent crop year commodity and marketing assistance loans, the interest rate for loans disbursed during August 2006 is 6.250%, up from 6.125% in July 2006. The interest rate for farm storage facility loans approved in August 2006 is 5.125%, up from 5.000% in July 2006. The interest rate for sugar storage facility loans for August 2006 is 5.250%, unchanged from 5.250% in July 2006. The maximum discount rate applicable for August 2006 for the Tobacco Transition Payment Program is 10.0%. This is based on the prime rate of 8.25% plus 2%, rounded to the nearest whole number.
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