(ND Ag Connection) – The U.S. Department of Agriculture (USDA) Commodity Credit Corporation (CCC) today announced the 2024 Marketing Assistance Loan rates.

Marketing Assistance Loans provide interim financing to producers so that commodities can be stored after harvest when market prices are typically low and sold later when market conditions may be more favorable.

The 2018 Farm Bill extended the Marketing Assistance Loan program, making production for the 2019 through 2023 crops eligible for loan benefits. A one-year extension of the 2018 Farm Bill signed by President Biden on Nov. 16, 2023, authorized an extension of the Marketing Assistance Loan and other farm bill provisions for 2024 crops.