USDA Announces Commodity Credit Corporation Lending Rates For May 2017

The U.S. Department of Agriculture’s (USDA) Commodity Credit Corporation today announced interest rates for May 2017. The Commodity Credit Corporation borrowing rate-based charge for May is 1.000 percent, unchanged from 1.000 percent in April.

The interest rate for crop year commodity loans less than one year disbursed during May is 2.000 percent, unchanged from 2.000 percent in April.

Interest rates for Farm Storage Facility Loans approved for May are as follows, 1.500 percent with three-year loan terms, down from 1.625 percent in April; 1.875 percent with five-year loan terms, down from 2.000 percent in April; 2.125 percent with seven-year loan terms, down from 2.250 percent in April; 2.375 percent with 10-year loan terms, down from 2.500 percent in April and; 2.375 percent with 12-year loan terms, down from 2.500 percent in April. The interest rate for 15-year Sugar Storage Facility Loans for May is 2.500 percent, down from 2.625 percent in April.

Source:usda.gov

In the Mesonet Weather Report, state climatologist Gary McManus says Oklahoma is set to warm up in the coming days. He also says additional rainfall is expected, which could bring some relief to areas that have been dry across the state.