# § 7932. Loan rates for nonrecourse marketing assistance loans
**(a)** **2002 and 2003 crop years** 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.
**(b)** **2004 through 2007 crop years** 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.
**(c)** **Single county loan rate for other oilseeds** The Secretary shall establish a single loan rate in each county for each kind of other oilseeds described in subsections (a)(10) and (b)(10).
**(d)** **Quality grades for dry peas, lentils, and small chickpeas** The loan rate for dry peas, lentils, and small chickpeas shall be based on—
**(1)** in the case of dry peas, United States feed peas;
**(2)** in the case of lentils, United States number 3 lentils; and
**(3)** in the case of small chickpeas, United States number 3 small chickpeas that drop below a 20/64 screen.
---
**Source Credit**: (Pub. L. 107–171, title I, § 1202, May 13, 2002, 116 Stat. 155; Pub. L. 108–7, div. A, title VII, § 763(b), Feb. 20, 2003, 117 Stat. 46.)
## Editorial Notes
### Amendments
2003—Subsec. (a)(10). , added par. (10) and struck out former par. (10) which read as follows: “In the case of other oilseeds, $0.0960 per pound.”
Subsec. (b)(10). , added par. (10) and struck out former par. (10) which read as follows: “In the case of other oilseeds, $0.0930 per pound.”
Subsecs. (c), (d). , added subsecs. (c) and (d).
## Statutory Notes and Related Subsidiaries
### Effective Date of 2003 Amendment
Amendment by applicable beginning with the 2003 crop of other oilseeds, dry peas, lentils, and small chickpeas, see , set out as a note under .