US: USDA announces loan rates for 2024-crop peanuts

1400 Independence Ave. SW Washington, DC 20250 FPAC.BC.Press@usda.govWASHINGTON, June 6, 2024 – The U.S. Department of Agriculture’s (USDA) Commodity Credit Corporation (CCC) today announced 2024-crop loan rates for four types of peanuts. The rates take effect Aug 1, 2024, the beginning of the peanut crop year. Eligible producers can obtain peanut loans through their local Farm Service Agency (FSA) county offices or alternative delivery partners, such as Designated Marketing Associations (DMA) and Cooperative Marketing Associations (CMA). These loans provide producers with interim financing on their production and facilitate the orderly distribution of loan-eligible peanuts throughout the year. The 2018 Farm Bill established the national loan rate for peanuts at $355 per ton. CCC calculated the price support levels for each peanut type using the same method as last year. The 2024 Crop Peanut Loan Rate was calculated using the national loan rate and five-year average quality ...