Don't show this message again
7 U.S. Code § 7232. Loan rates for marketing assistance loans
(a) Wheat
(1) Loan rateSubject to paragraph (2), the loan rate for a marketing assistance loan under section 7231 of this title for wheat shall be—
(A)
not less than 85 percent of the simple average price received by producers of wheat, as determined by the Secretary, during the marketing years for the immediately preceding 5 crops of wheat, excluding the year in which the average price was the highest and the year in which the average price was the lowest in the period; but
(B)
not more than $2.58 per bushel.
(2) Stocks to use ratio adjustmentIf the Secretary estimates for any marketing year that the ratio of ending stocks of wheat to total use for the marketing year will be—
(A)
equal to or greater than 30 percent, the Secretary may reduce the loan rate for wheat for the corresponding crop by an amount not to exceed 10 percent in any year;
(B)
less than 30 percent but not less than 15 percent, the Secretary may reduce the loan rate for wheat for the corresponding crop by an amount not to exceed 5 percent in any year; or
(C)
less than 15 percent, the Secretary may not reduce the loan rate for wheat for the corresponding crop.