§9032 Loan Rates for Nonrecourse Marketing Assistance Loans

Summary

Sets the marketing-assistance loan rates for many crops for three time periods. For the 2014–2018 crop years the rates are: wheat $2.94 per bushel; corn, grain sorghum, and barley $1.95 per bushel; oats $1.39 per bushel; upland cotton (base quality) = the simple average of the adjusted prevailing world price for the two prior marketing years (announced October 1) but no less than $0.45 and no more than $0.52 per pound; extra long staple cotton $0.7977 per pound; long and medium grain rice $6.50 per hundredweight; soybeans $5.00 per bushel; other oilseeds (sunflower, rapeseed, canola, safflower, flaxseed, mustard, crambe, sesame, and Secretary‑designated oilseeds) $10.09 per hundredweight; dry peas $5.40; lentils $11.28; small chickpeas $7.43; large chickpeas $11.28; graded wool $1.15 per pound; nongraded wool $0.40 per pound; mohair $4.20 per pound; honey $0.69 per pound; peanuts $355 per ton. For 2019–2025 the rates change to: wheat $3.38; corn and grain sorghum $2.20; barley $2.50; oats $2.00; upland cotton (base quality) = two‑year adjusted world price average announced October 1, but not less than 98% of the prior year’s upland cotton loan rate (unless an exception) and capped between $0.45 and $0.52 per pound; extra long staple cotton $0.95; long and medium grain rice $7.00; soybeans $6.20; the same listed oilseeds $10.09; dry peas $6.15; lentils $13.00; small chickpeas $10.00; large chickpeas $14.00; graded wool $1.15; nongraded wool $0.40; mohair $4.20; honey $0.69; peanuts $355. For 2026–2031 the rates are fixed as follows: wheat $3.72; corn and grain sorghum $2.42; barley $2.75; oats $2.20; upland cotton $0.55 per pound; extra long staple cotton $1.00; long and medium grain rice $7.70; soybeans $6.82; the listed oilseeds $11.10; dry peas $6.87; lentils $14.30; small chickpeas $11.00; large chickpeas $15.40; graded wool $1.60; nongraded wool $0.55; mohair $5.00; honey $1.50; peanuts $390 per ton. The Secretary must set one county loan rate for each of the listed oilseeds. For some program rules, seed cotton is treated as if its loan rate were $0.30 per pound, but no nonrecourse marketing-assistance loan is allowed for seed cotton.