Emergency Food and Agriculture Act

Summary

Emergency Food and Agriculture Act - Title I: Wheat - Amends the Agricultural Act of 1949 to provide for the 1978 through 1981 crops of wheat a price support floor of not less than $3.00 per bushel and a ceiling of not more than 100 percent of parity. Sets a sliding-scale of established prices, keyed to voluntary five percent increments above the required acreage set-aside level, ranging from 60 percent of parity per bushel for a 20 percent set-aside up to 89 percent of parity per bushel for a 50 percent set-aside. Title II: Feed Grains - Amends the Agricultural Act of 1949 to provide for the 1978 through 1981 crops of corn a price support floor of not less than $2.25 per bushel and a ceiling of not more than 100 percent of parity. Sets a sliding-scale of established prices, keyed to voluntary five percent increments above the required acreage set-aside level, ranging from 60 percent of parity per bushel for a ten percent set-aside up to full parity for a 50 percent set- aside. Title III: Upland Cotton - Amends the Agricultural Act of 1949 to provide for the 1978 through 1981 crops of upland cotton a loan level floor of not less than 52 cents per pound and a ceiling of not more than 100 percent of parity. Sets a sliding-scale of established prices, keyed to voluntary five percent increments above the required acreage set-aside level, ranging from 64 percent of parity per pound for a 20 percent set-aside up to full parity for a 50 percent set-aside. Title IV: Grain Release Prices - Amends the Agricultural Act of 1949: (1) to prohibit the Secretary of Agriculture from providing for the redemption of stored wheat and feed grains loans unless the market price for such commodities is not less than parity; (2) to prohibit the Secretary from calling such loans until the market for wheat and feed grains is at least 105 percent of parity; and (3) to prohibit the Commodity Credit Corporation from selling its stocks of wheat and feed grains for less than the parity price of such commodities.

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1 official file

• Introduced in House

  summary · EN · 24 February 1978

  Open at official source

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