A bill to strengthen farm market prices and farm income by providing a fair and equitable long-term producer storage program for wheat and feed grains.

Summary

Amends the Agricultural Act of 1949 to direct the Secretary of Agriculture to establish price supports under the producer storage program for the 1980 and 1981 crops of wheat and feed grains at not less than $3.30 per bushel for wheat, $2.40 for corn, and appropriate levels for other feed grains. States that such levels are not to be used to determine the level of repayment of storage loans for such crops prior to the maturity date or the levels at which the Secretary may call for such repayment. Requires the producer storage program to provide for: (1) conditions designed to induce producers to redeem and market such wheat and feed grains at not less than $4.00 per bushel for wheat and not less than $3.00 per bushel for corn; and (2) conditions prescribed by the Secretary under which the Secretary may require the repayment of storage loans, interest, and refund amounts paid for storage. Prohibits the Commodity Credit Corporation from selling any of its stock of wheat or feed grains at less than 105 percent of the then current level at which the Secretary may call for repayment of producer storage loans prior to the maturity dates.

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Documents

2 official files

• Reported to House with amendment(s)

  summary · EN · 16 May 1980

  Open at official source

• Introduced in House

  summary · EN · 6 May 1980

  Open at official source

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