On April 10 USDA’s Commodity Credit Corporation 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 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.
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.