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USDA Announces Commodity Credit Corporation Lending Rates for October 2020

The U.S. Department of Agriculture’s Commodity Credit Corporation (CCC) today announced interest rates for October 2020, which are effective October 1 - October 31, 2020.

The CCC borrowing rate-based charge for October is 0.125%, same as in September.

The interest rate for crop year commodity loans less than one year disbursed during October is 1.125%, same as in September.  

Interest rates for Farm Storage Facility Loans approved for October, all of which were unchanged from September, are as follows:

  • 0.125% with three-year loan terms;
  • 0.250% with five-year loan terms;
  • 0.500% with seven-year loan terms;
  • 0.625% with 10-year loan terms; and
  • 0.750% with 12-year loan terms.

The interest rate for 15-year Sugar Storage Facility Loans for October is 1.000%, up from 0.875% in September.

The loan programs administered by the Farm Service Agency help stabilize the incomes of America’s farmers and ranchers.

Visit https://www.farmers.gov for more information on loan eligibility, the application process or to find your local service center.

Source : usda.gov

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AJ Armstrong Takes the Helm as Manitoba Seed Growers President

Video: AJ Armstrong Takes the Helm as Manitoba Seed Growers President

The Manitoba Seed Growers Association (MSGA) held its first annual SeedLink Conference in Brandon last week, where a new president was appointed to take the helm of the organization.

A.J. Armstrong of Armstrong Seeds in Boissevain took the gavel from Past-President Tom Greaves. In a sit-down interview, Armstrong shared insights into his personal journey within the seed industry. Born into a family deeply rooted in seed cultivation, he took the reins of the family business in 2003, building on a legacy initiated by his father in 1980.

Regulatory modernization emerged as a significant focus of the conversation. While acknowledging the complexities of the process, Armstrong expressed optimism about the potential benefits for seed growers once the regulatory framework is finalized.

Discussing the dynamics of working with family in a business setting, he stressed the importance of open communication.

Operating with a streamlined team that includes his mom as the bookkeeper, his father as the “gopher” handling specific tasks, and a dedicated employee for day-to-day operations, the Armstrong family has successfully navigated the intricate balance of personal and professional relationships.

Open discussions about roles, responsibilities, and business plans contribute significantly to the smooth functioning of a family-operated seed business,” he said.

SeedLink is a new event; the decision to explore a return to a two-day annual meeting format sparked enthusiasm among industry partners, including key players and sponsors like SeCan, FP Genetics, Canterra Seeds, and numerous others.