the term in section 1111(4)(A) of the Agricultural Act of 2014 ( 7 U.S.C. 9011(4)(A) ), subject to any reallocation, adjustment, or reduction under section 1112. (5) Covered commodity The term covered commodity means wheat, oats, and barley (including wheat, oats, and barley used for haying and grazing), corn, grain sorghum, long grain rice, medium grain rice, pulse crops, soybeans, other oilseeds, seed cotton, and peanuts. (6) Effective price The term effective price , with respect to a covered commodity for a crop year, means the price calculated by the Secretary under section 1116(b) to determine whether price loss coverage payments are required to be provided for that crop year. (7) Effective reference price The term effective reference price , with respect to a covered commodity for a crop year, means the lesser of the following: (A) An amount equal to 115 percent of the reference price for such covered commodity. (B) An amount equal to the greater of— (i) the reference price for such covered commodity