7 U.S.C. § 9034: Repayment of loans

the loan rate established for the commodity under section 9032 of this title , plus interest (determined in accordance with section 7283 of this title ); is calculated based on average market prices for the loan commodity during the preceding 30-day period; and will minimize discrepancies in marketing loan benefits across State boundaries and across county boundaries; 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 9032 of this title , plus interest (determined in accordance with section 7283 of this title ); or in the case of long grain rice and medium grain rice, the prevailing world market price for the commodity, as determined and adjusted by the Secretary in accordance with this section; or in the case of upland cotton, the prevailing world market price for the commodity, as determined and adjusted by the Secretary in accordance with this section. In the case of a repayment for a marketing assistance loan for upland cotton at a rate described in paragraph (1)(B)(ii), the Secretary shall provide to the producer a refund (if any) in an amount equal to the difference between the lowest prevailing world market price, as determined and adjusted by the Secretary in accordance with this section, during the 30-day period following the date on which the producer repays the marketing assistance loan and the repayment rate. the loan rate established for the commodity under section 9032 of this title , plus interest (determined in accordance with section 7283 of this title ); and the prevailing world market price for the commodity, as determined and adjusted by the Secretary in accordance with this section. a formula to determine the prevailing world market price for each of upland cotton, long grain rice, medium grain rice, and extra long staple cotton; and a mechanism by which the Secretary shall announce periodically those prevailing world market prices. In the case of upland cotton, for any period when price quotations for Middling (M) 1 3 ⁄ 32 -inch cotton are available, the formula under paragraph (1)(A) shall be based on the average of the 3 lowest-priced growths that are quoted. The prevailing world market price for long grain rice and medium grain rice determined under subsection (d) shall be adjusted to United States quality and location. a reduction equal to any United States Premium Factor for upland cotton of a quality higher than Middling (M) 1 3 ⁄ 32 -inch; and the average costs to market the commodity, including average transportation costs, as determined by the Secretary; and to minimize potential loan forfeitures; to minimize the accumulation of stocks of upland cotton by the Federal Government; to ensure that upland cotton produced in the United States can be marketed freely and competitively, both domestically and internationally; and there are insufficient current-crop price quotations; and the forward-crop price quotation is the lowest such quotation available. shall be adjusted to United States quality and location, with the adjustment to include the average costs to market the commodity, including average transportation costs, as determined by the Secretary; and to minimize potential loan forfeitures; to minimize the accumulation of stocks of extra long staple cotton by the Federal Government; to ensure that extra long staple cotton produced in the United States can be marketed freely and competitively; and there are insufficient current-crop price quotations; and the forward-crop price quotation is the lowest such quotation available. In making adjustments under this subsection, the Secretary shall establish a mechanism for determining and announcing the adjustments in order to avoid undue disruption in the United States market. the loan rate established for the commodity under section 9032 of this title , plus interest (determined in accordance with section 7283 of this title ); or the repayment rate established for oil sunflower seed. Effective for each of the 2014 through 2025 crop years, the Secretary shall make cotton storage payments available in the same manner, and at the same rates as the Secretary provided storage payments for the 2006 crop of cotton, except that the rates shall be reduced by 10 percent. the submitted storage charge for the current marketing year; and California or Arizona, a payment rate of $4.90; and any other State, a payment rate of $3.00. the loan rate established for peanuts under subsection (a)(20) or (b)(20), as applicable, of section 9032 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 peanuts by the Federal Government; minimize the cost incurred by the Federal Government in storing peanuts; and allow peanuts produced in the United States to be marketed freely and competitively, both domestically and internationally. In the event of a severe disruption to marketing, transportation, or related infrastructure, the Secretary may modify the repayment rate otherwise applicable under this section for marketing assistance loans under section 9031 of this title for a loan commodity. Any adjustment made under paragraph (1) in the repayment rate for marketing assistance loans for a loan commodity shall be in effect on a short-term and temporary basis, as determined by the Secretary.