Page:United States Statutes at Large Volume 91.djvu/963

 PUBLIC LAW 95-113—SEPT. 29, 1977

91 STAT. 929

commodity in relation to corn and other factors specified in section 401(b) of this Act, and on each crop of grain sorghums at such level 7 USC 1421. 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)(1)(A) In addition, the Secretary shall make available to pro- Payments, ducers payments for each of the 1977 through 1981 crops of corn, grain sorghums, and, if designated by the Secretary, oats and barley, in an amount computed as provided in this subsection. Payments for the 1977 crop shall be computed by multiplying (i) the payment rate, by (ii) the allotment for the farm for such crop, by (iii) 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. Payments for each of the 1978 through 1981 crops shall be computed by multiplying (i) the payment rate, by (ii) the farm program acreage for the crop, by (iii) the farm program payment yield for the crop. In no event shall payments be made under this paragraph for any of the 1978 through 1981 crops on a greater acreage than the acreage actually planted to such feed grains. "(B) 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 the established price per bushel. The established price for Established price corn shall be $2.00 per bushel in the case of the 1977 crop, except that per bushel. the established price shall be $1.70 per bushel with respect to any acreage not planted to corn within the feed grain allotment. The estab- Adjusted cost of lished price for corn shall be $2.10 per bushel in the case of the 1978 production. crop, and for the 1979 through 1981 crops the established price shall be the established price for the previous year's crop adjusted to reflect any change in (i) the average adjusted cost of production for the two crop years immediately preceding the year for which the determination is made from (ii) the average adjusted cost of production for the two crop years immediately preceding the year previous to the one for which the determination is made. The adjusted cost of production for each of such years shall be determined by the Secretary on the basis of such information as the Secretary finds necessary and appropriate for the purpose and shall be limited to (i) variable costs, (ii) machinery ownership costs, and (iii) general farm overhead costs, allocated to the crops involved on the basis of the proportion of the value of the total production derived from each crop. "(C) Notwithstanding the foregoing provisions of this section, in Emergency the event the Secretary adjusts the level of loans and purchases for compensation. corn in accordance with the proviso in subsection (a)(1) of this section, the Secretary shall provide emergency compensation by increasing the established price payments for com by such amount as the Secretary determines necessary to provide the same total return to producers as if the adjustment in the level of loans and purchases had not been made: Provided., That any such increase in established price payments shall not be included in the payments subject to limitation under the provisions of section 101 of the Food and Agriculture Act of 1977. "(D) The payment rate for grain sorghums and, if designated by the Secretary, oats and barley, shall be such rate as the Secretary

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