The U.S. Department of Agriculture’s Commodity Credit Corp. released interest rates for July, which are effective through the end of the month.
The Commodity Credit Corporation borrowing rate-based charge for July is 0.125%, the same as in June, according to the USDA on Wednesday, July 1.
The interest rate for crop year commodity loans of less than one year, disbursed during July, is 1.125%. There was no change since June, the department said in a news release. Interest rates for Farm Storage Facility Loans approved for July are as follows:
- 0.250% with three-year loan terms, same as in June;
- 0.375% with five-year loan terms, same as in June;
- 0.625% with seven-year loan terms, same as in June;
- 0.750% with 10-year loan terms up from 0.625% in June; and
- 0.875% with 12-year loan terms up from 0.750 as in June.
The interest rate for 15-year Sugar Storage Facility Loans for July is 1.%, up from 0.875 in June. The loan programs administered by the Farm Service Agency help stabilize the incomes of America’s farmers and ranchers.
For more information on loan eligibility, the application process or to find your local service center, visit https://www.farmers.gov.