The U.S. Department of Agriculture’s (USDA) Commodity Credit Corporation today announced the 2016 marketing assistance loan rates by county for wheat, corn, grain sorghum, barley, oats, soybeans and each “other oilseed” (canola, crambe, flaxseed, mustard seed, rapeseed, safflower, sesame seed and sunflower seed). The rates are posted on the Farm Service Agency (FSA) website at www.fsa.usda.gov/programs-and-services/price-support/commodity-loan-rates/index.
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.
2016 Wheat, Feed Grains and Oilseeds National Loan Rates |
Wheat | $2.94 per bushel |
Corn | $1.95 per bushel |
Grain Sorghum | $1.95 per bushel |
Barley | $1.95 per bushel |
Oats | $1.39 per bushel |
Soybeans | $5.00 per bushel |
Other Oilseeds | $10.09 per hundredweight for each "other oilseed" |
Marketing assistance loans for the 2016 barley, canola, crambe, flaxseed, oats, rapeseed, sesame seed and wheat crops are available through March 31, 2017, and for the 2016 corn, grain sorghum, mustard seed, safflower, soybean and sunflower seed crops through May 31, 2017.
Marketing assistance loans were continued by the 2014 Farm Bill, which builds on historic economic gains in rural America over the past six years, achieving meaningful reform. Since enactment, USDA has implemented each provision of this critical legislation, including providing disaster relief to farmers and ranchers; strengthening risk management tools; expanding access to rural credit; funding critical research; establishing innovative public-private conservation partnerships; developing new markets for rural-made products; and investing in infrastructure, housing and community facilities to help improve quality of life in rural America.
Source:usda.gov