Page:United States Statutes at Large Volume 91.djvu/962

 91 STAT. 928

PUBLIC LAW 95-113—SEPT. 29, 1977 less than 115 per centum of the current national average loan rate for the commodity, adjusted for such current market differentials reflecting grade, quality, location, and other value factors as the Secretary determines appropriate, plus reasonable carrying charges."; (2) striking out in the fifth sentence "current basic county support rate including the value of any applicable price-support payment in kind (or a comparable price if there is no current basic county support rate)" and inserting in lieu thereof the following: "current basic county loan rate (or a comparable price if there is no current basic county loan rate)"; and (3) striking out in the seventh sentence ", but in no event shall the purchase price exceed the then current support price for such commodities" and inserting in lieu thereof the following: "or unduly affecting market prices, but in no event shall the purchase price exceed the Corporation's minimum sales price for such commodities for unrestricted use". XONAPPLICABILITY OF SECTION 1 0 7 OF THE AGRICULTURAL ACT OF 1949 TO THE 1977 THROUGH 1981 CROPS OF W H E A T

7 USC 1445a note. 7 USC 1445a.

SEC. 409, Section 107 of the Agricultural Act of 1949, as amended, shall not be applicable to the 1977 through 1981 crops of wheat. NONAPPLICABILITY OF SECTION 1 0 7 OF THE AGRICULTURAL ACT OF 1949, AS AMENDED, TO THE 1977 CROP OF W H E A T

7 USC 1445a note.

SEC. 410. Except as otherwise provided in section 401 of this Act, section 107 of the Agricultural Act of 1949, as added by the Agricultural Act of 1970, as amended, to be effective only for the 1974 through 1977 crops of wheat, shall not be applicable to the 1977 crop of wheat. TITLE V—FEED GRAINS LOAN RATES AND TARGET PRICES FOR THE 197 7 THROUGH

Loans and purchases. 7 USC 1444c.

Reduction.

1981

CROPS

SEC. 501. Effective only for the 1977 through 1981 crops, the Agricultural Act of 1949, as amended, is amended by adding subsections (a) through (c) to a new section 105A as follows: "SEC. 105A. Notwithstanding any other provision of law— "(a)(1) The Secretary shall make available to producers loans and purchases at such level, not less than $2.00 per bushel, for each of the .1977 through 1981 crops of corn, 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: Provided, That if the Secretary determines that the average price of corn received by producers in any marketing year is not more than 105 per centum of the level of loans and purchases for corn for such marketing year, the Secretary may reduce the level of loans and purchases for corn for the next marketing year by the amount the Secretary determines necessary to maintain domestic and export markets for grain, except that the level of loans and purchases shall not be reduced by more than 10 per centum in any year nor below $1.75 per bushel. "(2) The Secretary shall make available to producers loans and purchases on each of the 1977 through 1981 crops 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

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