Monday, May 2, 2016
USDA Announces Commodity Credit Corporation Lending Rates for May 2016
Release No. 0040.16 Contact: Isabel Benemelis (202) 720-7809 WASHINGTON, May 2, 2016 — The U.S. Department of Agriculture's Commodity Credit Corporation (CCC) today announced interest rates for May 2016. The CCC borrowing rate-based charge for May is 0.625 percent, unchanged from 0.625 percent in April. The interest rate for crop year commodity loans less than one year disbursed during May is 1.625 percent, unchanged from 1.625 percent in April. Interest rates for Farm Storage Facility Loans approved for May are as follows, 0.875 percent with three-year loan terms, 1.250 percent with five-year loan terms, 1.625 percent with seven-year loan terms, unchanged from 1.625 percent in April; 1.750 percent with 10-year loan terms, down from 1.875 percent in April and; 1.875 percent with 12-year loan terms, down from 2.000 percent in April. The interest rate for 15-year Sugar Storage Facility Loans for May is 2.000 percent, down from 2.125 percent in April. Further program information is available from USDA Farm Service Agency's (FSA) Financial Management Division at 202-772-6041.