USDA announces loan rates for wheat, feed grains and oilseeds
The U.S. Department of Agriculture’s (USDA) Commodity Credit Corporation last week 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 http://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.
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.
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