Section 8732 - Loan rates for nonrecourse marketing assistance loans(a) 2008 crop yearFor 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:
(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 base quality of upland cotton, $0.52 per pound.(8) In the case of long grain rice, $6.50 per hundredweight.(10) In the case of soybeans, $5.00 per bushel.(11) In the case of other oilseeds, $9.30 per hundredweight for each of the following kinds of oilseeds:(I) Other oilseeds designated by the Secretary.(12) In the case of dry peas, $6.22 per hundredweight.(13) In the case of lentils, $11.72 per hundredweight.(14) In the case of small chickpeas, $7.43 per hundredweight.(15) In the case of graded wool, $1.00 per pound.(16) In the case of nongraded wool, $0.40 per pound.(17) In the case of mohair, $4.20 per pound.(18) In the case of honey, $0.60 per pound.(b) 2009 crop yearExcept 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:
(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 base quality of upland cotton, $0.52 per pound.(8) In the case of long grain rice, $6.50 per hundredweight.(10) In the case of soybeans, $5.00 per bushel.(11) In the case of other oilseeds, $9.30 per hundredweight for each of the following kinds of oilseeds:(I) Other oilseeds designated by the Secretary.(12) In the case of dry peas, $5.40 per hundredweight.(13) In the case of lentils, $11.28 per hundredweight.(14) In the case of small chickpeas, $7.43 per hundredweight.(15) In the case of large chickpeas, $11.28 per hundredweight.(16) In the case of graded wool, $1.00 per pound.(17) In the case of nongraded wool, $0.40 per pound.(18) In the case of mohair, $4.20 per pound.(19) In the case of honey, $0.60 per pound.(c) 2010 through 2012 crop yearsExcept 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:
(1) In the case of wheat, $2.94 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, $1.95 per bushel.(5) In the case of oats, $1.39 per bushel.(6) In the case of base quality of upland cotton, $0.52 per pound.(8) In the case of long grain rice, $6.50 per hundredweight.(10) In the case of soybeans, $5.00 per bushel.(11) In the case of other oilseeds, $10.09 per hundredweight for each of the following kinds of oilseeds:(I) Other oilseeds designated by the Secretary.(12) In the case of dry peas, $5.40 per hundredweight.(13) In the case of lentils, $11.28 per hundredweight.(14) In the case of small chickpeas, $7.43 per hundredweight.(15) In the case of large chickpeas, $11.28 per hundredweight.(16) In the case of graded wool, $1.15 per pound.(17) In the case of nongraded wool, $0.40 per pound.(18) In the case of mohair, $4.20 per pound.(19) In the case of honey, $0.69 per pound.(d) Single county loan rate for other oilseedsThe 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).
1 See References in Text note below.
Pub. L. 110-234, title I, §12021202,, 122 Stat. 954; Pub. L. 110-246, §4(a), title I, §1202, June 18, 2008, 122 Stat. 1664, 1682.EDITORIAL NOTES
REFERENCES IN TEXTSection 8715 of this title, referred to in subsecs. (b) and (c), was repealed by Pub. L. 113-79, title I, §1103(a), Feb. 7, 2014, 128 Stat. 658.
CODIFICATION Pub. L. 110-234 and Pub. L. 110-246 enacted identical sections. Pub. L. 110-234 was repealed by section 4(a) of Pub. L. 110-246.
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATE Enactment of this section and repeal of Pub. L. 110-234 by Pub. L. 110-246 effective May 22, 2008, the date of enactment of Pub. L. 110-234 see section 4 of Pub. L. 110-246 set out as a note under section 8701 of this title.
- extra long staple cotton
- The term "extra long staple cotton" means cotton that-(A) is produced from pure strain varieties of the Barbadense species or any hybrid of the species, or other similar types of extra long staple cotton, designated by the Secretary, having characteristics needed for various end uses for which United States upland cotton is not suitable and grown in irrigated cotton-growing regions of the United States designated by the Secretary or other areas designated by the Secretary as suitable for the production of the varieties or types; and(B) is ginned on a roller-type gin or, if authorized by the Secretary, ginned on another type gin for experimental purposes.
- loan commodity
- The term "loan commodity" means wheat, corn, grain sorghum, barley, oats, upland cotton, extra long staple cotton, long grain rice, medium grain rice, soybeans, other oilseeds, graded wool, nongraded wool, mohair, honey, dry peas, lentils, small chickpeas, and large chickpeas.
- medium grain rice
- The term "medium grain rice" includes short grain rice.