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CCC Sets Wheat, Feed Grain, Oilseed, Rice, Pulses Loan Rates
USAgNet - 04/11/2019

USDA's Commodity Credit Corporation Wednesday announced the 2019 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);

- Region for pulses (dry peas, lentils, large chickpeas and small chickpeas); and State for rough rice.

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.

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.

The 2018 Farm Bill extended the marketing assistance loan program, making production for the 2019 through 2023 crops eligible for loan benefits. Relative to 2018-crop levels, the 2018 Farm Bill also increased the national loan rates for most of these commodities for each of the 2019-2023 crops.

Marketing assistance loans for the 2019 the barley, canola, crambe, flaxseed, oats, rapeseed, sesame seed, and wheat crops are available through March 31, 2020, and for the 2019 corn, grain sorghum, mustard seed, safflower, soybean and sunflower seed crops through May 31, 2020.

For warehouse-stored loans, national loan rates for whole and broken kernels are used to establish loan proceeds based on the milling out-turns reported on the warehouse receipt. Marketing assistance loans for the 2019 rice crop are available through May 31, 2020. The loan rate for long grain whole kernels is $11.09 per cwt.; for medium grain (including short grain), $10.50 per cwt.; and for broken kernels (all classes), $6.11 per cwt.

The West region includes Alaska, Arizona, California, Hawaii, Idaho, Nevada, New Mexico, Oregon, Utah and Washington. The East region includes Montana, North Dakota and other states not included in the West region. The rates for large and small chickpeas apply to all states and counties. Marketing assistance loans for the 2019 pulse crops are available through May 31, 2020.

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