A bill to amend the Agricultural Act of 1949 to mandate marketing loans for each of the 1988 through 1990 crops of wheat, feed grains, soybeans, and sunflowers, and for other purposes.

Summary

Amends the Agricultural Act of 1949 to establish price support levels for the 1988 through 1990 crops of: (1) wheat, at not less than $5.00 per bushel; (2) feed grains (corn), at not less than $3.50 per bushel; and (3) soybeans, at not less than $5.00 per bushel. Permits marketing loan repayment levels for these crops, as well as for sunflower seeds, at a level that is the lesser of: (1) the loan level determined for such crop; or (2) the average county price for the crop. Establishes standards the Secretary of Agriculture must use in providing for an acreage limitation program with respect to the 1988 through 1990 crops of wheat and feed grains. Establishes price supports for 1988 through 1990 sunflower crops. Sets purchase and loan levels at not less than nine cents per pound. Amends the Food Security Act of 1985 to limit to $150,000 per crop year the total amount of loans available per person under price support programs for crop years 1988 through 1990.

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Documents

1 official file

• Introduced in Senate

  summary · EN · 3 June 1987

  Open at official source

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