A bill to provide a price support program for the 1991 through 1995 crops of cotton, rice and oilseeds.

Summary

Title I: Cotton - Amends the Agricultural Act of 1949 to set forth price support provisions for the 1991 through 1995 crops of upland cotton. Establishes the target price at $.729 per pound, with adjustment authority based on production cost increases. Provides for ten-month market-based loans, with an eight-month extension if average prices do not exceed specified levels. Provides for: (1) a marketing loan program based on adjusted world market prices, including a market certificate program; and (2) the imposition of a special limited global import quota when the U.S. upland cotton price exceeds the "Northern Europe" price. Provides for deficiency payments calculated on a calendar year basis. Provides for an acreage limitation program that will provide for specified carryover cotton stocks. Authorizes a uniform acreage reduction of up to 25 percent. Sets forth conservation use provisions. Authorizes disaster payments and reduced yield disaster payments under specified conditions. Requires 50 percent planted cotton acreage in order to quality for programs benefits. States that cross-compliance shall not apply to such crops. Extends specified provisions of the extra long staple cotton program. Title II: Rice - Amends the Agricultural Act of 1949 to set forth price support provisions for the 1991 through 1995 rice crops. Establishes the target price at $10.71 per hundredweight, with adjustment authority based on production cost increases. Provides for nine-month market based loans. Provides for a marketing loan program based on adjusted world market prices, including a market certificate program. Requires 50 percent planted rice acreage in order to qualify for programs benefits. Authorizes disaster payments and reduced yield disaster payments under specified conditions. Provides for an acreage limitation program that will provide for specified carryover rice stocks. Authorizes a uniform acreage reduction of up to 35 percent. Sets forth conservation use provisions. States that cross-compliance shall not apply to such crops. Title III: Oilseeds - Amends the Agricultural Act of 1949 to set forth price support provisions for the 1991 through 1995 crops of soybeans and other oilseeds. Establishes soybean price supports at $6.25 per bushel. Authorizes annual loan level reductions of up to ten percent in order to: (1) maintain support levels; (2) discourage excessive plantings; or (3) minimize Federal program costs. Bases oilseed loans and purchases upon soybean levels. Title IV: Base Acreage and Yield Provisions for Upland Cotton and Rice - Amends the Agricultural Act of 1949 to revise upland cotton and rice farm and crop acreage base and program yield provisions. Title V: Miscellaneous Provisions - Amends the Agricultural Act of 1949 to extend advance program announcement provisions. Amends the Agriculture and Food Act of 1981 to: (1) extend the National Agricultural Cost of Production Standards Review Board; and (2) revise membership provisions. Amends the Agricultural Act of 1949 to make conservation acreage use provisions inapplicable to 1991 through 1995 producers who double crop a nonprogram crop after harvesting a program crop.

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2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

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• Introduced in Senate

  summary · EN · 29 March 1990

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