USDA Sets 2016-17 Loan Rates

WASHINGTON - Mar 30/16 - SNS -- The USDA's Commodity Credit Corporation (CCC) announced the 2016 marketing assistance loan rates by region for dry peas, lentils, small chickpeas and large chickpeas.

Marketing assistance loans provide interim financing to producers so that commodities can be stored after harvest when market prices are typically low, to be sold later when price conditions are more favorable.

The rates are well below both spot and new crop prices being offered to farmers, making it unlikely that any will place pulses under loan in the coming season.

   United States -- 2016 Regional Pulse Crop Loan Rates
         (dollars per 100 pounds)
                    East         West    National
Dry Peas            5.29         5.97        5.40
Lentils            10.59        13.86       11.28
Large Chickpeas    11.28        11.28       11.28
Small Chickpeas     7.43         7.43        7.43

The West region includes Alaska, Arizona, California, Hawaii, Idaho, Nevada, New Mexico, Oregon, Utah and Washington. The East region includes Montana, North Dakota and states not included in the West region. The rate for small and large chickpeas applies to all states and counties.