The U.S. Department of Agriculture's Commodity Credit Corporation (CCC) announced the 2011 rice loan rates for farm-stored rice by class. The national average rough rice loan rate is used to determine farm-stored loan proceeds in other rice-producing states.
The national loan rates for both long-grain and medium-/short-grain rough rice are specified at $6.50 per hundredweight (cwt) for the 2008 through 2012 crops in the Food, Conservation, and Energy Act of 2008. Loan rates by state are determined by the national milled loan rate factors and the state average milling yields.
For 2011 crop rice stored in commercial warehouses, the whole kernel milled rice loan rates are $9.93 per cwt for long-grain and $9.55 for medium-/short-grain. The broken kernel loan rate for all classes is $7.06 per cwt. Milled rice loan rates are computed using average milling yields by class and the statutorily determined rough rice loan rate of $6.50.