Section 1202 (a) of the Act provides the national loan rates for eligible loan

Commodities. The 2004-2007 crop years' national loan rates are as follows.

 

2007 National Average Loan Rates

 

Commodity

 Loan Rates per Unit

Wheat

$2.75 per bushel

Corn

$1.95 per bushel

Grain Sorghum

$1.95 per bushel

Barley

$1.85 per bushel

Oats

$1.33 per bushel

Upland Cotton

$0.52 per pound

Extra Long Staple (ELS) Cotton

$0.7977 per pound

Rice

$6.50 per hundredweight

Soybeans

$5.00 per bushel

Oilseeds (see below)

$0.0930 per pound

Graded Wool

$1.00 per pound

Non-Graded Wool

$0.40 per pound

Mohair

$4.20 per pound

Honey

$0.60 per pound

Dry Peas

$6.22 per hundredweight

Lentils

$11.72 per hundredweight

Small Chickpeas

$7.43 per hundredweight

 

 

2007 Oilseed National Average Loan Rates

 

Oilseed Type

Loan Rates per pound

Sunflower (oil and non-oil types)

$0.0930

Flaxseed

$0.0930

Canola

$0.0930

Rapeseed

$0.0930

Safflower Seed

$0.0930

Mustard Seed

$0.0930

Crambe

$0.0930

Sesame Seed

$0.0930