Page:United States Statutes at Large Volume 104 Part 5.djvu/136

 104 STAT. 3458 PUBLIC LAW 101-624—NOV. 28, 1990 "(ii) minimize the accumulation of oilseed stocks by the Federal Government; "(iii) minimize the cost incurred by the Federal Government in storing oilseeds; and "(iv) allow oilseeds produced in the United States to be marketed freely and competitively, both domestically and internationaly. Regulations. "(2) PREVAIUNG WORLD MARKET PRICE. — The Secretary shall prescribe by regulation— "(A) a formula to define the prevailing world market price for oilseeds (adjusted to United States quality and location); and "(B) a mechanism by which the Secretary shall announce periodically the prevailing world market price for oilseeds (adjusted to United States quality and location). " (e) LOAN DEFICIENCY PAYMENT.— "(1) IN GENERAL.— The Secretary shall, for each of the 1991 through 1995 crops of oilseeds, make payments available to producers who, although eligible to obtain a loan under subsection (b), agree to forgo obtaining the loan in return for payments under this subsection. "(2) COMPUTATION. — A payment under this subsection shall be computed by multiplying— "(A) the loan payment rate; by "(B) the quantity of oilseeds the producer is eligible to place under loan but for which the producer forgoes obtaining the loan in return for pa5anents under this subsection. "(3) LOAN PAYMENT RATE.— For purposes of this subsection, the loan payment rate shall be the amount by which— "(A) the loan level determined for the crop under subsection (c); exceeds "(B) the level at which a loan may be repaid under subsection (d). "(4) MARKETING CERTIFICATES. — "(A) IN GENERAL.—The Secretary may make payments under this section available in the form of certificates redeemable for any agricultural commodity owned by the Commodity Credit Corporation. "(B) MINIMAL OILSEED STOCKS.—The Secretary shall make certificates available under subparagraph (A) in such a manner so as to minimize the accumulation of oilseeds stocks. "(f) MARKETING YEAR.— For purposes of this section, the marketing year for— "(1) soybeans shall be the 12-month period beginning on September 1 and ending on August 31; and "(2) other oilseeds shall be prescribed by the Secretary by regulation. "(g) ANNOUNCEMENTS.— "(1) IN GENERAL.— Except as provided in paragraph (2), the Secretary shall make an announcement of the loan level for the crop not later than November 15 prior to the calendar year in which the crop is harvested. "(2) 1991 CROP. — In the case of the 1991 crop, the Secretary shall make an announcement of the loan level for the crop as soon as practicable after the date of enactment of this section.

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