§8732 Loan Rates for Nonrecourse Marketing Assistance Loans

Summary

Sets specific loan rates for marketing assistance loans for the 2008, 2009, and 2010–2012 crop years. For many crops the rate is the same across years, but some change by year. Exact rates are: wheat $2.75 (2008–2009) and $2.94 (2010–2012); corn and grain sorghum $1.95 all years; barley $1.85 (2008–2009) and $1.95 (2010–2012); oats $1.33 (2008–2009) and $1.39 (2010–2012); upland cotton (base quality) $0.52 per pound all years; extra long staple cotton $0.7977 per pound all years; long and medium grain rice $6.50 per hundredweight all years; soybeans $5.00 per bushel all years; other oilseeds $9.30 per cwt (2008–2009) and $10.09 per cwt (2010–2012); dry peas $6.22 per cwt (2008) and $5.40 per cwt (2009–2012); lentils $11.72 per cwt (2008) and $11.28 per cwt (2009–2012); small chickpeas $7.43 per cwt all years; large chickpeas $11.28 per cwt (2009–2012); graded wool $1.00 per pound (2008–2009) and $1.15 per pound (2010–2012); nongraded wool $0.40 per pound all years; mohair $4.20 per pound all years; honey $0.60 per pound (2008–2009) and $0.69 per pound (2010–2012). The “other oilseeds” group covers sunflower, rapeseed, canola, safflower, flaxseed, mustard, crambe, sesame, and any other oilseeds the Secretary names. For 2009 and 2010–2012 the rates apply except as provided in section 8715. The Secretary must also set one county loan rate for each of those oilseed types in each county.