Sec. 1202. Loan rates for nonrecourse marketing assistance loans
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/bill/113/hr/2642/eah/section-1202A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For purposes of the 2014 crop year and each succeeding crop year, the loan rate for a marketing assistance loan under section 1201 for a loan commodity shall be equal to the following: In the case of wheat, $2.94 per bushel. In the case of corn, $1.95 per bushel. In the case of grain sorghum, $1.95 per bushel. In the case of barley, $1.95 per bushel. In the case of oats, $1.39 per bushel. In the case of base quality of upland cotton, for the 2014 crop year and each succeeding crop year, the simple average of the adjusted prevailing world price for the 2 immediately preceding marketing years, as determined by the Secretary and announced October 1 preceding the next domestic plantings, but in no case less than $0.47 per pound or more than $0.52 per pound.
In the case of extra long staple cotton, $0.7977 per pound. In the case of long grain rice, $6.50 per hundredweight. In the case of medium grain rice, $6.50 per hundredweight. In the case of soybeans, $5.00 per bushel. In the case of other oilseeds, $10.09 per hundredweight for each of the following kinds of oilseeds: Sunflower seed. Rapeseed. Canola. Safflower. Flaxseed. Mustard seed. Crambe. Sesame seed. Other oilseeds designated by the Secretary. In the case of dry peas, $5.40 per hundredweight.
In the case of lentils, $11.28 per hundredweight. In the case of small chickpeas, $7.43 per hundredweight. In the case of large chickpeas, $11.28 per hundredweight. In the case of graded wool, $1.15 per pound. In the case of nongraded wool, $0.40 per pound. In the case of mohair, $4.20 per pound. In the case of honey, $0.69 per pound. In the case of peanuts, $355 per ton. The Secretary shall establish a single loan rate in each county for each kind of other oilseeds described in subsection (a)(11).