forms to consumer needs, including the separation of 
peanuts by type and quality. 
(6) REIMBURSABLE
AGREEMENTS
AND
PAY-
MENT
OF
ADMINISTRATIVE
EXPENSES.—The Sec-
retary may implement any reimbursable agreements 
or provide for the payment of administrative ex-
penses under this subsection only in a manner that 
is consistent with those activities in regard to other 
loan commodities. 
SEC. 1202. LOAN RATES FOR NONRECOURSE MARKETING 
ASSISTANCE LOANS. 
(a) IN GENERAL.—For purposes of each of the 2014 
through 2018 crop years, the loan rate for a marketing 
assistance loan under section 1201 for a loan commodity 
shall be equal to the following: 
(1) In the case of wheat, $2.94 per bushel. 
(2) In the case of corn, $1.95 per bushel. 
(3) In the case of grain sorghum, $1.95 per 
bushel. 
(4) In the case of barley, $1.95 per bushel. 
(5) In the case of oats, $1.39 per bushel. 
(6) In the case of base quality of upland cotton, 
for the 2014 and each subsequent crop year, the 
simple average of the adjusted prevailing world price 
for the 2 immediately preceding marketing years, as 
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determined by the Secretary and announced October 
1 preceding the next domestic plantings, but in no 
case less than $0.45 per pound or more than $0.52 
per pound. 
(7) In the case of extra long staple cotton, 
$0.7977 per pound. 
(8) In the case of long grain rice, $6.50 per 
hundredweight. 
(9) In the case of medium grain rice, $6.50 per 
hundredweight. 
(10) In the case of soybeans, $5.00 per bushel. 
(11) In the case of other oilseeds, $10.09 per 
hundredweight for each of the following kinds of oil-
seeds: 
(A) Sunflower seed. 
(B) Rapeseed. 
(C) Canola. 
(D) Safflower. 
(E) Flaxseed. 
(F) Mustard seed. 
(G) Crambe. 
(H) Sesame seed. 
(I) Other oilseeds designated by the Sec-
retary. 
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(12) In the case of dry peas, $5.40 per hun-
dredweight. 
(13) In the case of lentils, $11.28 per hundred-
weight. 
(14) In the case of small chickpeas, $7.43 per 
hundredweight. 
(15) In the case of large chickpeas, $11.28 per 
hundredweight. 
(16) In the case of graded wool, $1.15 per 
pound. 
(17) In the case of nongraded wool, $0.40 per 
pound. 
(18) In the case of mohair, $4.20 per pound. 
(19) In the case of honey, $0.69 per pound. 
(20) In the case of peanuts, $355 per ton. 
(b) SINGLE COUNTY LOAN RATE FOR OTHER OIL-
SEEDS.—The Secretary shall establish a single loan rate 
in each county for each kind of other oilseeds described 
in subsection (a)(11). 
SEC. 1203. TERM OF LOANS. 
(a) TERM OF LOAN.—In the case of each loan com-
modity, a marketing assistance loan under section 1201 
shall have a term of 9 months beginning on the first day 
of the first month after the month in which the loan is 
made. 
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(b) EXTENSIONS PROHIBITED.—The Secretary may 
not extend the term of a marketing assistance loan for 
any loan commodity. 
SEC. 1204. REPAYMENT OF LOANS. 
(a) GENERAL RULE.—The Secretary shall permit the 
producers on a farm to repay a marketing assistance loan 
under section 1201 for a loan commodity (other than up-
land cotton, long grain rice, medium grain rice, extra long 
staple cotton, peanuts and confectionery and each other 
kind of sunflower seed (other than oil sunflower seed)) at 
a rate that is the lesser of— 
(1) the loan rate established for the commodity 
under section 1202, plus interest (determined in ac-
cordance with section 163 of the Federal Agriculture 
Improvement and Reform Act of 1996 (7 U.S.C. 
7283)); 
(2) a rate (as determined by the Secretary) 
that— 
(A) is calculated based on average market 
prices for the loan commodity during the pre-
ceding 30-day period; and 
(B) will minimize discrepancies in mar-
keting loan benefits across State boundaries 
and across county boundaries; or 
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(3) a rate that the Secretary may develop using 
alternative methods for calculating a repayment rate 
for a loan commodity that the Secretary determines 
will— 
(A) minimize potential loan forfeitures; 
(B) minimize the accumulation of stocks of 
the commodity by the Federal Government; 
(C) minimize the cost incurred by the Fed-
eral Government in storing the commodity; 
(D) allow the commodity produced in the 
United States to be marketed freely and com-
petitively, both domestically and internationally; 
and 
(E) minimize discrepancies in marketing 
loan benefits across State boundaries and 
across county boundaries. 
(b) REPAYMENT RATES FOR UPLAND COTTON, LONG 
GRAIN RICE, AND MEDIUM GRAIN RICE.—The Secretary 
shall permit producers to repay a marketing assistance 
loan under section 1201 for upland cotton, long grain rice, 
and medium grain rice at a rate that is the lesser of— 
(1) the loan rate established for the commodity 
under section 1202, plus interest (determined in ac-
cordance with section 163 of the Federal Agriculture 
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