Eligible commodities.

CFR · 2024-01-01 · US · Title 7

(a) Commodities eligible to be pledged as collateral for a MAL made under this part are: (1) Barley, corn, grain sorghum, oats, peanuts, soybeans, oilseeds, wheat, dry peas, lentils, chickpeas, rice and other crops designated by CCC produced and mechanically harvested in the United States; (2) Dual purpose sorghum varieties as determined by CCC; and (3) Wool and mohair produced and shorn from live animals in the United States. (b) A commodity produced on land owned or otherwise in the possession of the United States that is occupied without the consent of the United States is not an eligible commodity. (c)(1) To be an eligible commodity, the commodity must be merchantable for food, feed, or other uses determined by CCC and must not contain mercurial compounds, toxin producing molds, or other substances poisonous to humans or animals. A commodity containing vomitoxin, aflatoxin, or Aspergillus mold may not be pledged for a nonrecourse MAL made under this part, except as provided by CCC in the MAL note and security agreement. (2) The determination of eligibility for rice includes class, grade, grading factor, milling yields, and other quality factors and will be based upon the U.S. Standards for Rice as applied to rough rice whether or not such determinations are made on the basis of an official inspection. (3) The determination of eligibility for peanuts includes type, quality, and quantity. (4) With regard to barley, canola, corn, flaxseed, grain sorghum, oats, rice, soybeans

official document · source cfr-2024 · id 7:§ 1421.5