The U.S. Department of Agriculture's Commodity Credit Corporation recently announced regional pulse crop loan rates for the 2012 crop.
Pulse crops include dry peas, lentils, small chickpeas and large chickpeas. Regional loan rates are established for dry peas, lentils and large chickpeas, but not for small chickpeas.
Due to limited market price information from which to establish a 2012 regional loan rate for large chickpeas, the statutory loan rate will again be applicable in all states and counties.
The West region includes Alaska, Arizona, California, Hawaii, Idaho, Nevada, New Mexico, Oregon, Utah and Washington.
The East region which includes North Dakota, South Dakota and all other states.
2012 Regional Loan Rates for Pulse Crops
Crop West Region East Region National Rate
Dry Peas $ 6.05/cwt $ 5.19/cwt $ 5.40/cwt
Lentils $13.68/cwt $10.55/cwt $11.28/cwt
Large Chickpeas $11.28/cwt $11.28/cwt $11.28/cwt
Small Chickpeas $ 7.43/cwt $ 7.43/cwt, $ 7.43/cwt
Regional dry pea and lentil loan rates reflect market price relationships and average to the national loan rate when weighted by their production. Discounts will apply to feed peas, and grade discounts will apply to pulse crops grading lower than U.S. No. 2. The discounts will be posted to Farm Service Agency's Price Support web page at: http://www.fsa.usda.gov/Internet/FSA_File/2-lp-grain_r01_a26.pdf.