A bill to amend the Agricultural Act of 1949 to assure that wheat and feed grains acquired by the Commodity Credit Corporation during market year 1979 to offset canceled exports will be effectively placed in and treated as a reserve.

Amends the Agricultural Act of 1949 to prohibit the Commodity Credit Corporation from selling any stocks of wheat or feed grains acquired in market year 1979 at less than 150 percent of the current price support level for such commodity at the time of sale. Declares that such restriction shall not prevent: (1) specified sales and offsetting purchases necessary to properly handle, rotate, distribute, and locate commodities; or (2) use of commodities to relieve acute distress areas or major disaster areas, as determined by the President.