The U.S. Department of Agriculture’s (USDA) Commodity Credit Corporation (CCC) today announced the 2023 Marketing Assistance Loan rates.
Marketing Assistance Loans provide interim financing to producers so that commodities can be stored after harvest when market prices are typically low and sold later when market conditions may be more favorable. The 2018 Farm Bill extended the Marketing Assistance Loan program, making production for the 2019 through 2023 crops eligible for loan benefits.
The 2023 Marketing Assistance Loan rates are available on the Farm Service Agency (FSA) website and below:
| 2023 Wheat, Feed Grains and Oilseeds National Loan Rates |
| Wheat | $3.38 per bushel |
| Corn | $2.20 per bushel |
| Grain Sorghum | $2.20 per bushel |
| Barley | $2.50 per bushel |
| Oats | $2.00 per bushel |
| Soybeans | $6.20 per bushel |
| Other Oilseeds | $10.09 per hundredweight (cwt.) for each "other oilseed" |
- National loan rates for 2023 crop year wheat, feed grains, and oilseeds are the same as 2022 crop year levels (see table below). County loan rates for these commodities are available at the Farm Service Agency (FSA) website.
- Marketing assistance loans for the 2023 barley, canola, crambe, flaxseed, oats, rapeseed, sesame seed, and wheat crops are available through March 31, 2024, and for the 2023 corn, grain sorghum, mustard seed, safflower, soybean and sunflower seed crops through May 31, 2024.
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| 2022 Wheat, Feed Grains and Oilseeds National Loan Rates |
| Wheat | $3.38 per bushel |
| Corn | $2.20 per bushel |
| Grain Sorghum | $2.20 per bushel |
| Barley | $2.50 per bushel |
| Oats | $2.00 per bushel |
| Soybeans | $6.20 per bushel |
| Other Oilseeds | $10.09 per hundredweight (cwt.) for each "other oilseed" |
| 2023 Rough Rice Loan Rates by State and Class |
| State | Long Grain Rice | Medium/Short Grain Rice |
| | ----------------------- $/cwt. --------------------- |
| Arkansas | $6.99 | $6.80 |
| California | $7.16 | $7.06 |
| Louisiana | $6.84 | $7.00 |
| Mississippi | $7.12 | $7.00 |
| Missouri | $7.17 | $7.00 |
| Texas | $7.26 | $7.00 |
| U.S. Average | $7.00 | $7.00 |
- U.S. Average rate applies to all other states not listed above.
- 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.
- The loan rate for long grain whole kernels is $11.15 per cwt.; for medium grain (including short grain), $10.44 per cwt.; and for broken kernels (all classes), $6.74 per cwt.
- Marketing assistance loans for the 2023 rice crop are available through May 31, 2024
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| 2023 Pulse Crop Loan Rates by Region |
| Crop | East Region | West Region | National |
| | ----------------------- $/cwt. --------------------- |
| Dry Peas | $6.16 | $6.06 | $6.15 |
| Lentils | $12.84 | $14.30 | $13.00 |
| Large Chickpeas | $14.00 | $14.00 | $14.00 |
| Small Chickpeas | $10.00 | $10.00 | $10.00 |
- West Region: Alaska, Arizona, California, Hawaii, Idaho, Nevada, New Mexico, Oregon, Utah and Washington.
- East Region: 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 2023 pulse crops are available through May 31, 2024.
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Source : usda.gov