7 U.S.C. § 8732 — Loan rates for nonrecourse marketing assistance loans
submitted 18 years ago by Pub. L. 110-234 to r/title-7-AGRICULTURE · 822 words · no verdicts yet
This law sets fixed loan rates for wheat, corn, cotton, rice, and other crops for the 2008 through 2012 crop years. Rates are listed per bushel, pound, or hundredweight and change slightly by year. The Secretary must also set one loan rate per county for oilseeds.
(a) 2008 crop year. For the 2008 crop year, the loan rate for a marketing assistance loan under section 8731 is: (1) wheat, $2.75 per bushel; (2) corn, $1.95 per bushel; (3) grain sorghum, $1.95 per bushel; (4) barley, $1.85 per bushel; (5) oats, $1.33 per bushel; (6) base-quality upland cotton, $0.52 per pound; (7) extra long staple cotton*, $0.7977 per pound; (8) long grain rice, $6.50 per hundredweight; (9) medium grain rice*, $6.50 per hundredweight; (10) soybeans, $5.00 per bushel; (11) other oilseeds, $9.30 per hundredweight, covering: (A) sunflower seed, (B) rapeseed, (C) canola, (D) safflower, (E) flaxseed, (F) mustard seed, (G) crambe, (H) sesame seed, and (I) other oilseeds the Secretary names; (12) dry peas, $6.22 per hundredweight; (13) lentils, $11.72 per hundredweight; (14) small chickpeas, $7.43 per hundredweight; (15) graded wool, $1.00 per pound; (16) nongraded wool, $0.40 per pound; (17) mohair, $4.20 per pound; (18) honey, $0.60 per pound.
(b) 2009 crop year. Except as provided in section 8715 of this title, for the 2009 crop year the rates are the same as 2008 for items (1) through (11), with these differences: (12) dry peas, $5.40 per hundredweight; (13) lentils, $11.28 per hundredweight; (14) small chickpeas, $7.43 per hundredweight; (15) large chickpeas, $11.28 per hundredweight; (16) graded wool, $1.00 per pound; (17) nongraded wool, $0.40 per pound; (18) mohair, $4.20 per pound; (19) honey, $0.60 per pound.
(c) 2010 through 2012 crop years. Except as provided in section 8715, for each of these years the rates are: (1) wheat, $2.94 per bushel; (2) corn, $1.95 per bushel; (3) grain sorghum, $1.95 per bushel; (4) barley, $1.95 per bushel; (5) oats, $1.39 per bushel; (6) base-quality upland cotton, $0.52 per pound; (7) extra long staple cotton, $0.7977 per pound; (8) long grain rice, $6.50 per hundredweight; (9) medium grain rice, $6.50 per hundredweight; (10) soybeans, $5.00 per bushel; (11) other oilseeds (same list as above), $10.09 per hundredweight; (12) dry peas, $5.40 per hundredweight; (13) lentils, $11.28 per hundredweight; (14) small chickpeas, $7.43 per hundredweight; (15) large chickpeas, $11.28 per hundredweight; (16) graded wool, $1.15 per pound; (17) nongraded wool, $0.40 per pound; (18) mohair, $4.20 per pound; (19) honey, $0.69 per pound.
(d) Single county loan rate for other oilseeds. For each kind of "other oilseed*" listed in subsections (a)(11), (b)(11), and (c)(11), the Secretary must set just one loan rate per county.
For purposes of the 2008 crop year, the loan rate for a marketing assistance loan under section 8731 of this title for a loan commodity* shall be equal to the following:
In the case of wheat, $2.75 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, $1.85 per bushel.
In the case of oats, $1.33 per bushel.
In the case of base quality of upland cotton, $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, $9.30 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, $6.22 per hundredweight.
In the case of lentils, $11.72 per hundredweight.
In the case of small chickpeas, $7.43 per hundredweight.
In the case of graded wool, $1.00 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, $0.60 per pound.
Except as provided in section 8715 1 of this title, for purposes of the 2009 crop year, the loan rate for a marketing assistance loan under section 8731 of this title for a loan commodity shall be equal to the following:
In the case of wheat, $2.75 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, $1.85 per bushel.
In the case of oats, $1.33 per bushel.
In the case of base quality of upland cotton, $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, $9.30 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, $1.00 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, $0.60 per pound.
Except as provided in section 8715 1 of this title, for purposes of each of the 2010 through 2012 crop years, the loan rate for a marketing assistance loan under section 8731 of this title 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, $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.
The Secretary shall establish a single loan rate in each county for each kind of other oilseeds described in subsections (a)(11), (b)(11), and (c)(11).
Source credit: (Pub. L. 110–234, title I, § 1202, May 22, 2008, 122 Stat. 954; Pub. L. 110–246, § 4(a), title I, § 1202, June 18, 2008, 122 Stat. 1664, 1682.)
- 2008Enacted · Pub. L. 110-234 · 122 Stat. 954
- 2008Amended · Pub. L. 110-246 · 122 Stat. 1664, 1682
A history note hasn’t been published yet. The record shows enactment by Pub. L. 110-234 on 2008-05-22.
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