A bill to provide for adequate reserves of certain agricultural commodities.

Summary

Provides that the Commodity Credit Corporation shall not sell any of its stocks of wheat, corn, grain sorghum, barley, oats, or rye at less than the established price applicable by law to the crop of any such commodity, or any of its stocks of soybeans at less than 150 percent of the current national average loan rate for such commodity. Authorizes the Secretary of Agriculture to purchase adequate reserves of wheat, feed grains, and soybeans at any time that the market price falls to 125 percent of the announced nonrecourse loan level for such commodities. Provides a two-year extension of the price support loan on any quantity of wheat, feed grains, or soybeans stored under seal on a farm or private commercial facility.

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1 official file

• Introduced in Senate

  summary · EN · 15 June 1973

  Open at official source

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