7 U.S.C. § 7914: Availability of counter-cyclical payments

For each of the 2002 through 2007 crop years for each covered commodity, the Secretary shall make counter-cyclical payments to producers on farms for which payment yields and base acres are established with respect to the covered commodity if the Secretary determines that the effective price for the covered commodity is less than the target price for the covered commodity. The national average market price received by producers during the 12-month marketing year for the covered commodity, as determined by the Secretary. The national average loan rate for a marketing assistance loan for the covered commodity in effect for the applicable period under subchapter II. The payment rate in effect for the covered commodity under section 7913 of this title for the purpose of making direct payments with respect to the covered commodity. Wheat, $3.86 per bushel. Corn, $2.60 per bushel. Grain sorghum, $2.54 per bushel. Barley, $2.21 per bushel. Oats, $1.40 per bushel. Upland cotton, $0.7240 per pound. Rice, $10.50 per hundredweight. Soybeans, $5.80 per bushel. Other oilseeds, $0.0980 per pound. Wheat, $3.92 per bushel. Corn, $2.63 per bushel. Grain sorghum, $2.57 per bushel. Barley, $2.24 per bushel. Oats, $1.44 per bushel. Upland cotton, $0.7240 per pound. Rice, $10.50 per hundredweight. Soybeans, $5.80 per bushel. Other oilseeds, $0.1010 per pound. the target price for the covered commodity; and the effective price determined under subsection (b) for the covered commodity. The payment rate specified in subsection (d). The payment acres of the covered commodity on the farm. The payment yield or updated payment yield for the farm, depending on the election of the owner of the farm under section 7912 of this title . If the Secretary determines under subsection (a) that counter-cyclical payments are required to be made under this section for the crop of a covered commodity, the Secretary shall make the counter-cyclical payments for the crop as soon as practicable after the end of the 12-month marketing year for the covered commodity. If, before the end of the 12-month marketing year for a covered commodity, the Secretary estimates that counter-cyclical payments will be required for the crop of the covered commodity, the Secretary shall give producers on a farm the option to receive partial payments of the counter-cyclical payment projected to be made for that crop of the covered commodity. the first partial payment for the crop year shall be made not earlier than October 1, and, to the maximum extent practicable, not later than October 31, of the calendar year in which the crop of the covered commodity is harvested; the second partial payment shall be made not earlier than February 1 of the next calendar year; and the final partial payment shall be made as soon as practicable after the end of the 12-month marketing year for the covered commodity. the first partial payment shall be made after completion of the first 6 months of the marketing year for the covered commodity; and the final partial payment shall be made as soon as practicable after the end of the 12-month marketing year for the covered commodity. For each of the 2002 through 2006 crop years of a covered commodity, the first partial payment under paragraph (3) to the producers on a farm may not exceed 35 percent of the projected counter-cyclical payment for the covered commodity for the crop year, as determined by the Secretary. 70 percent of the projected counter-cyclical payment (including any revision thereof) for the crop of the covered commodity; and the amount of the payment made under clause (i). the actual counter-cyclical payment to be made to the producers for the covered commodity for that crop year; and the amount of the partial payments made to the producers under clauses (i) and (ii) for that crop year. For the 2007 crop year, the first partial payment under paragraph (3) to the producers on a farm may not exceed 40 percent of the projected counter-cyclical payment for the covered commodity for the crop year, as determined by the Secretary. the actual counter-cyclical payment to be made to the producers for the covered commodity for that crop year; and the amount of the partial payment made to the producers under clause (i). The producers on a farm that receive a partial payment under this subsection for a crop year shall repay to the Secretary the amount, if any, by which the total of the partial payments exceed the actual counter-cyclical payment to be made for the covered commodity for that crop year.