116 STAT. 156 PUBLIC LAW 107-171—MAY 13, 2002 (7) In the case of extra long staple cotton, $0.7977 per pound. (8) In the case of rice, $6.50 per hundredweight. (9) In the case of soybeans, $5.00 per bushel. (10) In the case of other oilseeds. $0.0960 per pound. (11) In the case of graded wool, $1.00 per pound. (12) In the case of nongraded wool, $0.40 per pound. (13) In the case of mohair, $4.20 per pound. (14) In the case of honey, $0.60 per pound. (15) In the case of dry peas, $6.33 per hundredweight. (16) In the case of lentils, $11.94 per hundredweight. (17) In the case of small chickpeas, $7.56 per hundredweight. (b) 2004 THROUGH 2007 CROP YEARS. —For purposes of the 2004 through 2007 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, $2.75 per bushel. (2) In the case of com, $1.95 per bushel. (3) In the case of grain sorghum, $1.95 per bushel. (4) In the case of barley, $1.85 per bushel. (5) In the case of oats, $1.33 per bushel. (6) In the case of upland cotton, $0.52 per pound. (7) In the case of extra long staple cotton, $0.7977 per pound. (8) In the case of rice, $6.50 per hundredweight. (9) In the case of soybeans, $5.00 per bushel. (10) In the case of other oilseeds, $0.0930 per pound. (11) In the case of graded wool, $1.00 per pound. (12) In the case of nongraded wool, $0.40 per pound. (13) In the case of mohair, $4.20 per pound. (14) In the case of honey, $0.60 per pound. (15) In the case of dry peas, $6.22 per hundredweight. (16) In the case of lentils, $11.72 per hundredweight. (17) In the case of small chickpeas, $7.43 per hundredweight. 7 USC 7933. SEC. 1203. TERM OF LOANS. (a) TERM OF LOAN.— In the case of each loan commodity, 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. 7 USC 7934. 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 upland cotton, rice, and extra long staple cotton) at a rate that is the lesser of— (1) the loan rate established 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)); or (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;
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