A bill to require action by the President and Secretary of Agriculture to increase farm income and to improve the effectiveness of farm programs.

Amends the Food and Agriculture Act of 1977 and the Agriculture Act of 1949 to: (1) increase the established prices of wheat and corn for the 1978 crops; (2) require land diversion payments whenever a set-aside of wheat or feed grains cropland is in effect for the 1978 crop year; (3) declare that no further acreage set-aside shall be required in any year on a summer fallow farm if at least 55 percent of cropland acreage is diverted to summer fallow use; (4) require implementation of the critical lands resource conservation program for the Great Plains states for the 1978 crop year; and (5) allow, under specified circumstances, interest-free extensions of the repayment period on wheat and feed grains loans.