Page:United States Statutes at Large Volume 104 Part 5.djvu/183

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PUBLIC LAW 101-624—NOV. 28, 1990 104 STAT. 3505 " (f) QUANTITY OF COMMODITIES IN PROGRAM.—The Secretary may establish maximum quantities of wheat and feed grains that may receive loans and storage pa5nnents under this program as follows: "(1) The maximum quantities of wheat may not be established at less than 300 million bushels, nor more than 450 million bushels. "(2) The maximum quantities of feed grains may not be established at less than 600 million bushels, nor more than 900 million bushels. "(g) ANNOUNCEMENT OF PROGRAM. — "(1) TIME OF ANNOUNCEMENT.—The Secretary shall announce the terms and conditions of the producer storage program for a crop of wheat and feed grains by— "(A) in the case of wheat, December 15 of the year in which the crop of wheat was harvested; and "(B) in the case of feed grains, March 15 of the year following the year in which the crop of corn was harvested. "(2) DISCRETIONARY ENTRY.—The Secretary may make extended logins available to producers of wheat or feed grains if— "(A) the Secretary determines that the average market price for wheat or com, respectively, for the 90-day period prior to the dates specified in pargigraph (1) is less than 120 percent of the current loan rate for wheat or corn, respectively; or "(B) 8is of the appropriate date specified in paragraph (1), the Secretary estimates that the stocks-to-use ratio on the last day of the current marketing year will be— '(i) in the case of wheat, more than 37.5 percent; and "(ii) in the case of corn, more than 22.5 percent. "(3) MANDATORY ENTRY.— The Secretary shall make extended loans available to producers of wheat or feed grains if the conditions specified in subparagraphs (A) and (B) of paragraph (2) are met for wheat or feed grains, respectively. "(4) CONTENT OF ANNOUNCEMENT. — In the announcement, the Secretary shall specify the maximum quantity of wheat or feed grains to be stored under this program that the Secretary determines appropriate to promote the orderly marketing of the commodities. "(h) DISCRETIONARY EXIT.— A producer may repay a loan extended under this section at any time. "(i) RECONCENTRATION OF GRAIN.— The Secretary may, with the concurrence of the owner of grain stored under this program, reconcentrate all such grain stored in commercial warehouses at such points as the Secretary considers to be in the public interest, taking into account such factors as transportation and normal marketing patterns. The Secretary shall permit rotation of stocks and facilitate Securities. maintenance of quality under regulations that assure that the Regulations. holding producer or warehouseman shall, at all times, have available for delivery at the designated place of storage both the quantity and quality of grain covered by the producer's or warehouseman s commitment. "(j) MANAGEMENT OF GRAIN. —Whenever grain is stored under this section, the Secretary may buy and sell at an equivalent price, allowing for the customary location and grade differentials, substantially equivalent quantities of grain in different locations or warehouses to the extent needed to properly handle, rotate, distribute, and locate the commodities that the Commodity Credit Corporation