Page:United States Statutes at Large Volume 87.djvu/262

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PUBLIC LAW 93-86-AUG. 10, 1973

[87 STAT.

COMMODITY C R E D I T CORPORATIONS A L E S P R I C E RESTRICTIONS 84 Stat. 1367. 7 USC 1427 and note.

(16) Section 409 is amended by striking out "1971, 1972, and 1973" and inserting "1971 through 1977". S E T - A S I D E ON SUMMER F A L L O W F A R M S

7 USC 1334a-I.

(17) Section 410 is amended by striking out "1971, 1972, and 1973" and inserting "1971 through 1977". F E E D GRAIN PROGRAM

Loans and purchases. 84 Stat. 1368. 7 USC 1441 note.

63 Stat. 1054; 78 Stat. 175. 7 USC 1421.

Payments, computation.

(18) Effective only with respect to the 1974 through 1977 crops of feed grains, section 501 is amended by— (A) striking out that portion through the first colon and section 105(a) of the Agriculture Act of 1949, as it appears therein, and inserting the following: "SEC. 501. (a) Effective only with respect to the 1971 through 1977 crops of feed grains, section 105(a) of the Agricultural Act of 1949, as amended, is further amended to read as follows: " 'SEC. 105. Notwithstanding any other provision of law— " ' (a)(1) The Secretary shall make available to producers loans and purchases on each crop of corn at such level, not less than $1.10 per bushel nor in excess of 90 per centum of the parity price therefor, as the Secretary determines will encourage the exportation of feed grains and not result in excessive total stocks of feed grains in the United States. ' " (2) The Secretary shall make available to producers loans and purchases on each crop of barley, oats, and rye, respectively, at such level as the Secretary determines is fair and reasonable in relation to the level that loans and purchases are made available for corn, taking into consideration the feeding value of such commodity in relation to corn and other factors specified in section 401(b), and on each crop of grain sorghums at such level as the Secretary determines is fair and reasonable in relation to the level that loans and purchases are made available for corn, taking into consideration the feeding value and average transportation costs to market of grain sorghums in relation to corn.'." (B) adding at the end thereof the following: "(b) Effective only with respect to the 1974 through 1977 crops of feed grains, section 105(b) of the Agricultural Act of 1949, as amended, is further amended to read as follows: " '(b)(1) I n addition, the Secretary shall make available to producers payments for each crop of com, grain sorghums, and, if designated by the Secretary, barley, computed by multiplying (1) the payment rate, times (2) the allotment for the farm for such crop, times (3) the yield established for the farm for the preceding crop with such adjustments as the Secretary determines necessary to provide a fair and equitable yield. The payment rate for corn shall be the amount by which the higher of— " '(1) the national weighted average market price received by farmers during the first five months of the marketing year for such crop, as determined by the Secretary, or ' " (2) the loan level determined under subsection (a) for such crop is less than th« established price of $1.38 per bushel in the case of the 1974 and 1975 crops, $1.38 per bushel adjusted to reflect any change during the calendar year 1975 in the index of prices paid by farmers

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