The Commodity Credit Corporation (CCC) today announced county loan rates for 2009 crops of wheat, corn, grain sorghum, barley, oats, soybeans and other oilseeds (sunflower seed, flaxseed, canola, rapeseed, safflower, mustard seed, crambe and sesame seed). The rates are posted on the Farm Service Agency (FSA) Web site.
The 2008 Farm Bill authorizes the national loan rates for the 2009 crops of wheat, feed grains and oilseeds at these levels:
Wheat $2.75 per bushel
Corn $1.95 per bushel
Grain Sorghum $1.95 per bushel
Barley $1.85 per bushel
Oats $1.33 per bushel
Soybeans $5.00 per bushel
Other Oilseeds $9.30 per hundredweight for each "other oilseed"
As required by the 2008 Farm Bill, these 2009 national loan rates are established at the same levels as those established for the 2008 crop.
Other Rates
Peanut loan rates by type will be announced separately. Other commodity loan rates were announced previously are: cotton loan rate premiums and discounts, April 15, 2009; pulse regional loan rates, April 8, 2009; rice loan rates by class, March 10, 2009; and wool and mohair loan rates, December 2, 2008.
Note: In a change to the FSA release dated April 10, 2009, regarding Marketing Assistance Loan (MAL) repayment rates for pulse MALs, the loan repayment rate will be based on U.S. Grade Number 2 or better instead of the originally indicated U.S. Grade Number 1. Also, in a change to the FSA release dated April 8, 2009, in regards to MAL loan rates by region for pulse MALs, the base loan rate to determine discounts will be U.S. Grade Number 2 or better instead of the originally indicated U.S. Grade Number 1. With respect to dry peas, the MAL loan and repayment rates are based on U.S. Grade Number 2 or better food grade.
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