7 U.S.C. § 7934: Repayment of loans

the loan rate established for the commodity under section 7932 of this title , plus interest (determined in accordance with section 7283 of this title ); 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; allow the commodity produced in the United States to be marketed freely and competitively, both domestically and internationally; and minimize discrepancies in marketing loan benefits across State boundaries and across county boundaries. the loan rate established for the commodity under section 7932 of this title , plus interest (determined in accordance with section 7283 of this title ); 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 7932 of this title , plus interest (determined in accordance with section 7283 of this title ). a formula to determine the prevailing world market price for upland cotton and rice, adjusted to United States quality and location; and a mechanism by which the Secretary shall announce periodically the prevailing world market price for upland cotton and rice. the adjusted prevailing world market price is less than 115 percent of the loan rate for upland cotton established under section 7932 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. the loan rate established for the commodity under section 7932 of this title , plus interest (determined in accordance with section 7283 of this title ); or the repayment rate established for oil sunflower seed. The loan repayment rate for dry peas, lentils, and small chickpeas shall be based on the quality grades for the applicable commodity specified in section 7932(d) of this title . For the 2001 crop year only, in the case of the producers on a farm that marketed or otherwise lost beneficial interest in a loan commodity for which a marketing assistance loan was made under section 7231 of this title before repaying the loan, the Secretary shall permit the producers to repay the loan at the appropriate repayment rate that was in effect for the loan commodity under section 7234 of this title on the date that the producers lost beneficial interest, as determined by the Secretary, if the Secretary determines the producers acted in good faith.