A bill to amend the Food and Agriculture Act of 1977 to establish certain loan levels whenever the export sales of certain commodities are suspended, and for other purposes.

(Reported to House from the Committee on Agriculture with amendment, H. Rept. 96-877 (Part I))

Amends the Food and Agriculture Act of 1977 to require the Secretary of Agriculture to set the loan level at 90 percent of the parity price for any specified agricultural commodities in which export sales have been suspended (presently such loan levels are set only when export sales are suspended due to short supplies). Stipulates that the loan level shall be at least the average market price for the five marketing days preceding the suspension of exports of such commodities for national security or foreign policy reasons.

Directs the Secretary to ascertain that Government purchases of such commodities include acquisition of quantities of like classes of the particular commodities proportionate to the quantities of those classes for which sales were suspended.

Makes this Act applicable to export suspensions occurring after January 1, 1980.