Under the

2002 farm bill The Farm Security and Rural Investment Act of 2002, also known as the 2002 Farm Bill, includes ten titles, addressing a great variety of issues related to agriculture, ecology, energy, trade, and nutrition. This act has been superseded by the 2007 ...

(P.L. 101-171, Sec. 1201-1205), the following commodities are eligible for marketing assistance loans and are called loan commodities: wheat,

corn Maize ( ; ''Zea mays'' subsp. ''mays'', from es, maíz after tnq, mahiz), also known as corn (North American and Australian English), is a cereal grain first domesticated by indigenous peoples in southern Mexico about 10,000 years ago. Th ...

, grain

sorghum ''Sorghum'' () is a genus of about 25 species of flowering plants in the grass family (Poaceae). Some of these species are grown as cereals for human consumption and some in pastures for animals. One species is grown for grain, while many othe ...

, barley oats, upland cotton, extra long staple (ELS) cotton, rice,

soybeans The soybean, soy bean, or soya bean (''Glycine max'') is a species of legume native to East Asia, widely grown for its edible bean, which has numerous uses. Traditional unfermented food uses of soybeans include soy milk, from which tofu and ...

, other oilseeds, wool, mohair,

honey Honey is a sweet and viscous substance made by several bees, the best-known of which are honey bees. Honey is made and stored to nourish bee colonies. Bees produce honey by gathering and then refining the sugary secretions of plants (primar ...

, dry peas, lentils, and small chickpeas. With the exception of extra long staple cotton, farmers agreeing to forgo the loans are eligible for

loan deficiency payments In United States agriculture policy, loan deficiency payments (LDP) are a farm income support program first authorized by the Food Security Act of 1985 (P.L. 99-198) that makes direct payments, equivalent to marketing loan gains, to producers who ag ...

(LDPs) on actual production of loan commodities.

References

* {{DEFAULTSORT:Loan Commodities Agricultural finance United States Department of Agriculture Loans