§7931. Availability of nonrecourse marketing assistance loans for loan commodities — Inbound Citations

Citations to 7 U.S.C. § 7931 as a whole

• 7 U.S.C. § 7932(a)

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  (a) For purposes of the 2002 and 2003 crop years, the loan rate for a marketing assistance loan under section 7931 of this title 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.
• 7 U.S.C. § 7932(b)

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  (b) For purposes of the 2004 through 2007 crop years, the loan rate for a marketing assistance loan under section 7931 of this title 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.
• 7 U.S.C. § 7933(a)

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  (a) In the case of each loan commodity, a marketing assistance loan under section 7931 of this title shall have a term of 9 months beginning on the first day of the first month after the month in which the loan is made.
• 7 U.S.C. § 7934(a)

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  (a) The Secretary shall permit the producers on a farm to repay a marketing assistance loan under section 7931 of this title for a loan commodity (other than upland cotton, rice, extra long staple cotton, and confectionery and each other kind of sunflower seed (other than oil sunflower seed)) at a rate that is the lesser of—

  (1) the loan rate established for the commodity under section 7932 of this title, plus interest (determined in accordance with section 7283 of this title); or

  (2) a rate that the Secretary determines will—

  (A) minimize potential loan forfeitures;

  (B) minimize the accumulation of stocks of the commodity by the Federal Government;

  (C) minimize the cost incurred by the Federal Government in storing the commodity;

  (D) allow the commodity produced in the United States to be marketed freely and competitively, both domestically and internationally; and

  (E) minimize discrepancies in marketing loan benefits across State boundaries and across county boundaries.
• 7 U.S.C. § 7934(b)

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  (b) The Secretary shall permit producers to repay a marketing assistance loan under section 7931 of this title for upland cotton and rice at a rate that is the lesser of—

  (1) the loan rate established for the commodity under section 7932 of this title, plus interest (determined in accordance with section 7283 of this title); or

  (2) the prevailing world market price for the commodity (adjusted to United States quality and location), as determined by the Secretary.
• 7 U.S.C. § 7934(f)

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  (f) The Secretary shall permit the producers on a farm to repay a marketing assistance loan under section 7931 of this title for confectionery and each other kind of sunflower seed (other than oil sunflower seed) at a rate that is the lesser of—

  (1) the loan rate established for the commodity under section 7932 of this title, plus interest (determined in accordance with section 7283 of this title); or

  (2) the repayment rate established for oil sunflower seed.
• 7 U.S.C. § 7935(a)(1)

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  (1) Except as provided in subsection (d), the Secretary may make loan deficiency payments available to producers on a farm that, although eligible to obtain a marketing assistance loan under section 7931 of this title with respect to a loan commodity, agree to forgo obtaining the loan for the commodity in return for loan deficiency payments under this section.
• 7 U.S.C. § 7935(a)(2)

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  (2) Nongraded wool in the form of unshorn pelts and hay and silage derived from a loan commodity are not eligible for a marketing assistance loan under section 7931 of this title. However, effective for the 2002 through 2007 crop years, the Secretary may make loan deficiency payments available under this section to producers on a farm that produce unshorn pelts or hay and silage derived from a loan commodity.
• 7 U.S.C. § 7935(b)(2)

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  (2) the quantity of the commodity produced by the eligible producers, excluding any quantity for which the producers obtain a marketing assistance loan under section 7931 of this title.
• 7 U.S.C. § 7939(a)(3)

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  (3) In this subsection, the term “high moisture state” means corn or grain sorghum having a moisture content in excess of Commodity Credit Corporation standards for marketing assistance loans made by the Secretary under section 7931 of this title.