A loan rate is written into law for each crop for 2026 through 2031
What the document says“For purposes of each of the 2026 through 2031 crop years, the loan rate for a marketing assistance loan under section 1201 for a loan commodity shall be equal to the following:”
The section inserts a new subsection (c) into section 1202 of the Agricultural Act of 2014 (7 U.S.C. 9032) listing twenty rates for the 2026 through 2031 crop years: wheat $3.72 a bushel, corn $2.42, grain sorghum $2.42, barley $2.75, oats $2.20, upland cotton $0.55 a pound, extra long staple cotton $1.00 a pound, long grain rice $7.70 a hundredweight, medium grain rice $7.70, soybeans $6.82 a bushel, other oilseeds $11.10 a hundredweight, dry peas $6.87, lentils $14.30, small chickpeas $11.00, large chickpeas $15.40, graded wool $1.60 a pound, nongraded wool $0.55, mohair $5.00, honey $1.50, and peanuts $390 a ton. It also strikes 2023 and inserts 2025 in the heading and opening words of subsection (b), and strikes $0.25 and inserts $0.30 in paragraph (1) of the redesignated subsection (e).
What the document actually says“For purposes of each of the 2026 through 2031 crop years, the loan rate for a marketing assistance loan under section 1201 for a loan commodity shall be equal to the following:”
For the 2026 to 2031 crop years the law fixes a loan rate. The list that follows gives the rate for each crop.
Twenty crops are named. Wheat is set at $3.72 a bushel. Corn is set at $2.42. Peanuts are set at $390 a ton.
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