§9039 Availability of Recourse Loans for High Moisture Feed Grains and Seed Cotton

Summary

The Secretary must make recourse loans available for certain crops in these years. For the 2014 through 2031 crops, loans must be offered for corn and grain sorghum harvested in a high moisture state, and for all production of upland and extra long staple seed cotton. For the 2019 through 2031 crops, loans must be offered for commodities that are contaminated but still merchantable and were ruled ineligible for 100 percent of the nonrecourse marketing loan rate; those loans are at the rate given under section 9032. Repayment must be at the loan rate plus interest set under section 7283. High moisture state — corn or grain sorghum with moisture above Commodity Credit Corporation standards for marketing assistance loans under section 9031. To get a high-moisture loan, producers must normally harvest part or all of the crop wet, provide proof of quantity (certified scale tickets or approved field measurements where scales aren’t available), certify they owned and delivered the crop to approved storage or use facilities, and meet harvesting and application deadlines the Secretary sets. Loan quantity for acquired feed grain equals the acres harvested in a high moisture state times the lower of the payment yield used for price loss coverage (see section 9015 and related rules in section 9036) or the actual yield on a similar field as determined by the Secretary.