Sec. 1202. LOAN RATES FOR NONRECOURSE MARKETING ASSISTANCE LOANS
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/statute-compilations/comps-10236/sec-1202A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## SEC. 1202 LOAN RATES FOR NONRECOURSE MARKETING ASSISTANCE LOANS **[**[7 U.S.C. 7932](/us/usc/t7/s7932)**]** ###
(a)2002 and 2003 Crop Years For purposes of the 2002 and 2003 crop years, the loan rate for a marketing assistance loan under section 1201 for a loan commodity shall be equal to the following: ####
(1)In the case of wheat, $2.80 per bushel. ####
(2)In the case of corn, $1.98 per bushel. ####
(3)In the case of grain sorghum, $1.98 per bushel. ####
(4)In the case of barley, $1.88 per bushel. ####
(5)In the case of oats, $1.35 per bushel. ####
(6)In the case of upland cotton, $0.52 per pound. ####
(7)In the case of extra long staple cotton, $0.7977 per pound. ####
(8)In the case of rice, $6.50 per hundredweight. ####
(9)In the case of soybeans, $5.00 per bushel. ####
(10)In the case of other oilseeds, $.0960 per pound for each of the following kinds of oilseeds: #####
(A)Sunflower seed. #####
(B)Rapeseed. #####
(C)Canola. #####
(D)Safflower. #####
(E)Flaxseed. #####
(F)Mustard seed. #####
(G)Crambe. #####
(H)Sesame seed. #####
(I)Other oilseeds designated by the Secretary. ####
(11)In the case of graded wool, $1.00 per pound. ####
(12)In the case of nongraded wool, $0.40 per pound. ####
(13)In the case of mohair, $4.20 per pound. ####
(14)In the case of honey, $0.60 per pound. ####
(15)In the case of dry peas, $6.33 per hundredweight. ####
(16)In the case of lentils, $11.94 per hundredweight. ####
(17)In the case of small chickpeas, $7.56 per hundredweight. ###
(b)2004 Through 2007 crop Years For purposes of the 2004 through 2007 crop years, the loan rate for a marketing assistance loan under section 1201 for a loan commodity shall be equal to the following: ####
(1)In the case of wheat, $2.75 per bushel. ####
(2)In the case of corn, $1.95 per bushel. ####
(3)In the case of grain sorghum, $1.95 per bushel. ####
(4)In the case of barley, $1.85 per bushel. ####
(5)In the case of oats, $1.33 per bushel. ####
(6)In the case of upland cotton, $0.52 per pound. ####
(7)In the case of extra long staple cotton, $0.7977 per pound. ####
(8)In the case of rice, $6.50 per hundredweight. ####
(9)In the case of soybeans, $5.00 per bushel. ####
(10)In the case of other oilseeds, $.0930 per pound for each of the following kinds of oilseeds: #####
(A)Sunflower seed. #####
(B)Rapeseed. #####
(C)Canola. #####
(D)Safflower. #####
(E)Flaxseed. #####
(F)Mustard seed. #####
(G)Crambe. #####
(H)Sesame seed. #####
(I)Other oilseeds designated by the Secretary. ####
(11)In the case of graded wool, $1.00 per pound. ####
(12)In the case of nongraded wool, $0.40 per pound. ####
(13)In the case of mohair, $4.20 per pound. ####
(14)In the case of honey, $0.60 per pound. ####
(15)In the case of dry peas, $6.22 per hundredweight. ####
(16)In the case of lentils, $11.72 per hundredweight. ####
(17)In the case of small chickpeas, $7.43 per hundredweight. ###
(c)Single County Loan Rate for Other Oilseeds The Secretary shall establish a single loan rate in each county for each kind of other oilseeds described in subsections (a)(10) and (b)(10). ###
(d)Quality Grades for Dry Peas, Lentils, and Small Chickpeas The loan rate for dry peas, lentils, and small chickpeas shall be based on— ####
(1)in the case of dry peas, United States feed peas; ####
(2)in the case of lentils, United States number 3 lentils; and ####
(3)in the case of small chickpeas, United States number 3 small chickpeas that drop below a 20/64 screen.
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Sec. 1202
LOAN RATES FOR NONRECOURSE MARKETING ASSISTANCE LOANS
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