Page:United States Statutes at Large Volume 101 Part 2.djvu/796

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101 STAT. 1330-2
101 STAT. 1330-2
PUBLIC LAW 100-000—MMMM. DD, 1987

101 STAT. 1330-2

PUBLIC LAW 100-203—DEC. 22, 1987

per pound for the 1989 crop" and inserting in lieu thereof "$0,759 per pound for the 1988 crop, $0,734 per pound for the 1989 crop". (d) EXTRA LONG STAPLE COTTON.—Effective only for the 1988 and 1989 crops of extra long staple cotton, section 103(h)(8)(B) of such Act (7 U.S.C. 1444(h)(3)(B)) is amended— (1) by striking out "The" and inserting in lieu thereof "Except as provided in clause (ii), the"; and (2) by adding at the end thereof the following new clause: "(ii) In the case of each of the 1988 and 1989 crops of extra long staple cotton, the established price for each such crop shall be 118.3 percent of the loan level determined for such crop under paragraph (2).". (e) RICE.—Effective only for the 1988 and 1989 crops of rice, section 101 A(c)(l)(D) of such Act (7 U.S.C. 1441-l(c)(l)(D)) is amended by striking out "$11.30 per hundredweight for the 1988 crop, $10.95 per hundredweight for the 1989 crop" and inserting in lieu thereof "$11.15 per hundredweight for the 1988 crop, $10.80 per hundredweight for the 1989 crop". SEC. 1102. LOAN RATES.

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(a) WHEAT.—Effective only for the 1988 through 1990 crops of wheat, section 107D(a)(3)(B) of the Agricultural Act of 1949 (7 U.S.C. 1445b-3(a)(3)(B)) is amended by striking out "not be reduced by more than 5 percent from the level determined for the preceding crop." and inserting in lieu thereof the following: "not be reduced by more than— "(i) in the case of the 1987 crop, 5 percent from the level determined for the preceding crop; "(ii) in the case of the 1988 crop, 3 percent from the level , ^ . determined for the preceding crop; "(iii) in the case of the 1989 crop, 5 percent from the level determined for the preceding crop, plus an additional 2 percent from the level determined for the preceding crop if the Secretary, after taking into account any reduction that is provided for under paragraph (4)(A)(ii), determines that 5 such additional percentage reduction is necessary to maintain a competitive market position for wheat; and "(iv) in the case of the 1990 crop, 5 percent from the level determined for the preceding crop.". (b) FEED GRAINS.—Effective only for the 1988 through 1990 crops of feed grains, section 105C(a)(2)(B) of such Act (7 U.S.C. 1444e(a)(2)(B)) is amended by striking out "not be reduced by more than 5 percent from the level determined for the preceding crop." and inserting in lieu thereof the following: "not be reduced by more than— "(i) in the case of the 1987 crop, 5 percent from the level determined for the preceding crop; "(ii) in the case of the 1988 crop, 3 percent from the level determined for the preceding crop; "(iii) in the case of the 1989 crop, 5 percent from the level determined for the preceding crop, plus an additional 2 percent from the level determined for the preceding crop if the Secretary, after taking into account any reduction that ^ is provided for under paragraph (3)(A)(ii), determines that such additional percentage reduction is necessary to msdntain a competitive market position for feed grains; and