Farmers and ranchers with farm storage facility loans through the U.S. Department of Agriculture (USDA) Commodity Credit Corporation (CCC) will see slightly higher interest rates this month.
According to the CCC, the borrowing rate-based charge for this month will remain unchanged at 0.125 percent. Farm storage facility loans for seven-year terms will hold an interest rate of 1.5 percent, up from 1.25 percent last month. The interest rate for 10-year loans will rise this month to 2.125 percent from 1.75 percent last month. Loans with 12-year terms will hold an interest rate of 2.375 percent. That’s up from 2 percent in June.
For 1996 and subsequent crop year commodity and marketing assistance loans, the rate will remain unchanged at 1.125 percent.