Contact: Isabel Benemelis
WASHINGTON, DC, June 24, 2014 — USDA’s Commodity Credit Corporation (CCC) today announced 2014-crop loan rates for four types of peanuts.
The 2014 Farm Bill established the national loan rate for peanuts at $355 per ton, which is unchanged from the previous farm bill. CCC calculated the price support levels for each peanut type using the same method as last year. CCC uses the national loan rate and five-year average quality factors, along with a three-year simple average weighted production. The rates take effect Aug. 1, 2014, the beginning of the peanut crop year. For an average grade ton of 2014-crop peanuts, loan levels by type are:
$354.86 per ton
$333.91 per ton
$357.79 per ton
$357.79 per ton
CCC applies premiums and discounts for quality factors to compute the loan value for an individual ton of peanuts. The actual loan level depends on the percent of various sizes of kernels in each ton. CCC uses the percentage of sound mature kernels (SMK) and sound splits (SS) to compute the basic loan value of the load. Discounts for other kernels (OK), damaged kernels (DK), foreign materials (FM) and loose shell kernels (LSK) may apply.
For each percent of SMK in a ton of peanuts, plus each percent of SS, the loan levels are:
$4.819 per percent
$4.795 per percent
$5.346 per percent
$4.915 per percent
Additional peanut program information is available from Kathy Sayers at (202) 834-5879 or via email at email@example.com.
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