7 U.S.C. § 7234: Repayment of loans

the loan rate established for the commodity under section 7232 of this title , plus interest (as determined by the Secretary); or minimize potential loan forfeitures; minimize the accumulation of stocks of the commodity by the Federal Government; minimize the cost incurred by the Federal Government in storing the commodity; and allow the commodity produced in the United States to be marketed freely and competitively, both domestically and internationally. the loan rate established for the commodity under section 7232 of this title , plus interest (as determined by the Secretary); or the prevailing world market price for the commodity (adjusted to United States quality and location), as determined by the Secretary. Repayment of a marketing assistance loan for extra long staple cotton shall be at the loan rate established for the commodity under section 7232 of this title , plus interest (as determined by the Secretary). a formula to determine the prevailing world market price for each loan commodity, adjusted to United States quality and location; and a mechanism by which the Secretary shall announce periodically the prevailing world market price for each loan commodity. the adjusted prevailing world market price is less than 115 percent of the loan rate for upland cotton established under section 7232 of this title , as determined by the Secretary; and the Friday through Thursday average price quotation for the lowest-priced United States growth as quoted for Middling (M) 1 3 ⁄ 32 -inch cotton delivered C.I.F. Northern Europe is greater than the Friday through Thursday average price of the 5 lowest-priced growths of upland cotton, as quoted for Middling (M) 1 3 ⁄ 32 -inch cotton, delivered C.I.F. Northern Europe (referred to in this section as the “Northern Europe price”). The United States share of world exports. The current level of cotton export sales and cotton export shipments. Other data determined by the Secretary to be relevant in establishing an accurate prevailing world market price for upland cotton (adjusted to United States quality and location). the Friday through Thursday average price for the lowest-priced United States growth as quoted for Middling 1 3 ⁄ 32 -inch cotton delivered C.I.F. Northern Europe; and the Northern Europe price.