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USDA Announces Commodity Credit Corporation Lending Rates For November 2015

The U.S. Department of Agriculture's Commodity Credit Corporation (CCC) today announced interest rates for November 2015. The CCC borrowing rate-based charge for November is 0.250 percent, down from 0.375 percent in October.

 The interest rate for crop year commodity loans less than one year disbursed during November is 1.250 percent, down from 1.375 percent in October.

 Interest rates for Farm Storage Facility Loans approved for November are as follows, 1.750 percent with seven-year loan terms, down from 1.875 percent in October; 2.125 percent with 10-year loan terms, unchanged from 2.125 percent in October and; 2.250 percent with 12-year loan terms, down from 2.375 percent in October. The interest rate for 15-year Sugar Storage Facility Loans for November is 2.375 percent, down from 2.500 percent in October.

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New Rules for Land Lease Termination

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Oral agreements, often sealed with a simple handshake, aren’t unusual in the farming community, especially for long-standing leases. For instance, Dan Criswell and his father before him had leased the land adjoining their own farm for close to 50 years without written agreements.