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50 021-71-10

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after be adjusted from time to time as CCC determines appropriate to reflect changes in market conditions. Producers may obtain schedules of such factors and discounts and adjustments thereof at county ASCS offices approximately 1 month prior to the loan maturity date or as soon thereafter as practicable.

Subpart-1970 and Subsequent Crops Soybean Loan and Purchase Program

AUTHORITY: The provisions of this subpart issued under sec. 4, 62 Stat. 1070, as amended; 15 U.S.C. 714b. Interpret or apply sec. 5, 62 Stat. 1072, secs. 203, 301, 401, 63 Stat. 1054; 7 U.S.C. 1446(d), 1447, 1421.

SOURCE: The provisions of this subpart appear at 35 F.R. 13971, Sept. 3, 1970; 35 F.R. 14501, Sept. 16, 1970, unless otherwise noted. § 1421.365

Purpose.

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Producers desiring price support for soybeans must obtain a loan or notify the county ASCS office of intentions to sell to CCC no later than the dates set forth in the applicable annual soybean crop supplement to the regulations in this subpart.

§ 1421.367 Eligible soybeans.

(a) General. To be eligible for a loan or a purchase, the soybeans may be of any class but must be merchantable for food, feed, or other uses, as determined by CCC, and must not contain mercurial compounds or other substances poisonous to man or animals.

(b) Warehouse stored loan grade requirements. To be eligible for a warehouse-storage loan, the soybeans must also meet the following requirements:

(1) The soybeans must grade U.S. No. 4 or better.

(2) If the soybeans grade "Weevily", the warehouse receipt issued for such soybeans must be accompanied by a sup

plemental certificate which provides for the delivery by the warehouseman of soybeans which do not grade "Weevily" and which are otherwise of an eligible grade and quality. The grade, grading factors, and the quantity shown on the supplemental certificate must be as specified in § 1421.370(c).

(3) If the soybeans contain in excess of 14 percent moisture, the warehouse receipt issued for such soybeans must be accompanied by a supplemental certificate which provides for the delivery by the warehouseman of soybeans containing not over 14 percent moisture and which are otherwise of an eligible grade and quality. The grade, grading factors, and the quantity shown on the supplemental certificate must be as specified in 1421.370 (c).

(4) Soybeans must not grade "Garlicky."

& 1421.368 Determination of quality.

The class, grade, grading factors, and all other quality factors shall be based on the Official Grain Standards of the United States for Soybeans, whether or not determinations are made on the basis of an official inspection.

§ 1421.369 Determination of quantity. When the quantity of soybeans is determined by weight, a bushel shall be 60 pounds of soybeans free of foreign material in excess of 1 percent; the weight of foreign material in excess of 1 percent shall be deducted from the gross weight in the determination of the net number of bushels of soybeans.

(a) In warehouse. The quantity of soybeans stored in an approved warehouse and on which a warehouse storage loan may be made, and the quantity of soybeans delivered to or acquired by CCC in an approved warehouse, shall be the net weight specified on the warehouse receipt, or on the supplemental certificate, if applicable. If the soybeans have been dried or blended to reduce the moisture content, the quantity specified on the warehouse receipt or the supplemental certificate, if applicable, shall be the quantity after drying or blending, and such quantity shall reflect a minimum shrink in the receiving weight of 1.2 times the percentage difference between the moisture content of the soybeans when received, and 14 percent.

(b) On farm. The quantity of soybeans eligible to be placed under a farm storage loan shall be determined in ac

cordance with § 1421.18 of the general regulations. The quantity acquired by CCC from farm storage shall be determined by weight.

§ 1421.370 Warehouse receipts.

Warehouse receipts tendered to CCC in connection with a loan or purchase must meet the requirements of this section.

(a) Separate receipt. A separate warehouse receipt must be submitted for each grade and class of soybeans. In the case of approved cooperative marketing associations, a separate warehouse receipt also must be submitted for each county support rate at which price support is obtained.

(b) Entries. Each warehouse receipt or the warehouseman's supplemental certificate (in duplicate), properly identified with the warehouse receipt, must show all of the following: (1) Gross weight and net bushels, (2) class, (3) grade, (4) test weight, (5) moisture, (6) percentage of foreign material, (7) any other grading factor(s) when such factor(s), and not test weight or moisture, determine the grade, (8) for soybeans grading No. 2, 3, or 4, the percentage of total damage, (9) for soybeans grading No. 3 or No. 4, the percentage of splits, and heat damage, (10) whether the soybeans were received by rail, truck, or barge, and (11) the date the soybeans were received or deposited in the warehouse.

(c) Where warehouse receipt shows "Weevily", or moisture over 14 percent, or both. If a warehouse receipt tendered for a loan shows that the soybeans grade "Weevily" or contained over 14 percent moisture, or both, the warehouse receipt must be accompanied by a supplemental certificate as provided in § 1421.367(b) (2) and (3) in order for the soybeans to be eligible for price support. The grade, grading factors, quantity to be delivered, and other information must be shown on the supplemental certificate as follows: (1) When the warehouse receipt shows "Weevily" and the soybeans have been conditioned to correct the "Weevily" condition, the supplemental certificate must show the same grade without the "Weevily" designation and the same grading factors and quantity as shown on the warehouse receipt; (2) when the warehouse receipt shows moisture content over 14 percent and the soybeans have been dried or blended, the supplemental certificate must show the grade, grading factors, and quantity

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