USDA announces loan rates for wheat, feed grains, oilseeds, rice and pulse crops
The U.S. Department of Agriculture’s Commodity Credit Corporation today announced the 2018 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, small chickpeas and large chickpeas); and
- State for rough rice.
The rates are posted on the Farm Service Agency website at 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 2018 barley, canola, crambe, flaxseed, oats, rapeseed, sesame seed, and wheat crops are available through March 31, 2019, and for the 2018 corn, grain sorghum, mustard seed, safflower, soybean and sunflower seed crops through May 31, 2019.
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 2018 rice crop are available through May 31, 2019. The loan rate for long grain whole kernels is $10.08 per cwt.; for medium grain (including short grain), $9.67 per cwt.; and for broken kernels (all classes), $6.14 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 rate for small and large chickpeas applies to all states and counties. Marketing assistance loans for the 2018 pulse crops are available through May 31, 2019.
For more information, visit www.usda.gov/farmbill. To learn more about FSA, visit www.fsa.usda.gov.
