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(D) Safflower. 
(E) Flaxseed. 
(F) Mustard seed. 
(G) Crambe. 
(H) Sesame seed. 
(I) Other oilseeds designated by the Sec-
retary. 
(13) In the case of dry peas, $5.40 per hun-
dredweight. 
(14) In the case of lentils, $11.28 per hundred-
weight. 
(15) In the case of small chickpeas, $8.54 per 
hundredweight. 
(16) In the case of peanuts, $355.00 per ton. 
(17) In the case of graded wool, $1.10 per 
pound. 
(18) In the case of nongraded wool, $0.40 per 
pound. 
(19) In the case of honey, $0.60 per pound. 
(20) In the case of mohair, $4.20 per pound. 
(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)(12).
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(c) SPECIAL RULES FOR CORN AND GRAIN SOR-
GHUM.— 
(1) SINGLE COUNTY AND NATIONAL AVERAGE 
LOAN RATE.—The Secretary shall— 
(A) establish a single county loan rate for 
corn and grain sorghum in each county; 
(B) establish a single national average loan 
rate for corn and grain sorghum; and 
(C) determine each county loan rate and 
the national average loan rate for corn and 
grain sorghum and any and all other program 
loan rates applicable to corn and grain sorghum 
from a data set that includes prices for both 
commodities. 
(2) ADMINISTRATION.—With respect to corn 
and grain sorghum, the Secretary— 
(A) shall administer the applicable loan, 
marketing loan, counter-cyclical payment, and 
related programs from a single loan rate for 
corn and grain sorghum that is identical in 
each individual county; 
(B) shall provide that any adjustment in 
the loan rate for location shall be determined 
and applied on the basis of the combined data 
set such that any transportation adjustment
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shall be the same for corn and grain sorghum 
in each individual county; and 
(C) may provide for adjustments for grade, 
type, and quality as appropriate for the corn or 
grain sorghum involved in each specific trans-
action. 
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. 
(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, short 
grain rice, extra long staple cotton, and confectionery and 
each other kind of sunflower seed (other than oil sunflower 
seed)) at the lesser of the following: 
(1) The loan rate established for the commodity 
under section 1202, plus interest (determined in ac-
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cordance with section 163 of the Federal Agriculture 
Improvement and Reform Act of 1996 (7 U.S.C. 
7283)). 
(2) A rate 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, if applicable. 
(b) REPAYMENT RATES FOR UPLAND COTTON AND 
RICE.—The Secretary shall permit producers to repay a 
marketing assistance loan under section 1201 for upland 
cotton, long grain rice, medium grain rice, and short 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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Improvement and Reform Act of 1996 (7 U.S.C. 
7283)); or 
(2) the prevailing world market price for the 
commodity (adjusted to United States quality and 
location), as determined by the Secretary. 
(c) REPAYMENT RATES FOR EXTRA LONG STAPLE 
COTTON.—Repayment of a marketing assistance loan for 
extra long staple cotton shall be at the loan rate estab-
lished for the commodity under section 1202, plus interest 
(determined in accordance with section 163 of the Federal 
Agriculture Improvement and Reform Act of 1996 (7 
U.S.C. 7283)). 
(d) PREVAILING WORLD MARKET PRICE.—For pur-
poses of this section and section 1207, the Secretary shall 
prescribe by regulation— 
(1) a formula to determine the prevailing world 
market price for upland cotton, which shall be based 
on the Far East price of upland cotton; 
(2) a formula to determine the prevailing world 
market price for— 
(A) long grain rice; and 
(B) medium and short grain rice; 
(3) a mechanism by which the Secretary will 
announce periodically the prevailing world market