Ohio crop farmers should be aware that the United States Department of Agriculture released the 2005 national and county loan rates for corn, grain sorghum and soybeans on January 31, 2005 . The 2002 Farm Bill established the 2005-crop national average loan rates at the following levels: Corn $1.95 per bushel Grain Sorghum $1.95 per bushel Soybeans $5.00 per bushel The 2005 county loan rates reflect the USDA’s continual effort to make incremental adjustments to the relative levels of the county loan rates for each commodity. The restructured rates are intended to better reflect the market factors affecting each crop and to minimize distortions that work to the detriment of producers and industry. The USDA has paid special attention to reducing notable loan rate differences among neighboring counties that are not the result of current market forces. Producers interested in learning the 2005 Crop County Loan Rates for their county can do so by calling their local Farm Service Agency office or by accessing the Farm Service Agency Web site at http://www.fsa.usda.gov/dafp/psd/LoanRate.htm or directly linking to the county loan rates posted at:
http://www.fsa.usda.gov/dafp/psd/2005CorSorSoyLR.pdf