USDA low interest rate commodity loans available

Farm Service Agency (FSA) has low-interest rate loans available to producers on their harvested production. Eligible producers may obtain a nine month commodity loan on their stored production using the crop as collateral. Commodity loans provide producers short-term financing while waiting to market or feed their crops. The December marketing assistance loan interest rate is 2.50 percent.

Commodity loans are available to producers who share in the risk of producing a crop. Interested producers can still request a marketing assistance loan on their 2017 crops. Eligible crops include small grains (wheat, oats, barley), honey, coarse grains (corn, soybeans), and other oilseeds.

To be eligible, a producer must maintain continual beneficial interest in the crop and the commodity must be harvested and stored in an acceptable structure on the farm or in an approved warehouse.

The final date to obtain a loan on a 2017 corn, soybeans, and other oil seed crops is May 31. The final dates to obtain a marketing assistance loan on your 2017 small grain and honey crops is March 31.

Continue to full article.