Sec. 1202. Loan rates for nonrecourse marketing assistance loans
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/bill/113/s/10/is/section-1202A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
For purposes of each of the 2014 through 2018 crop years, 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 2013 and each subsequent 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).