A bill to strengthen farm market prices and farm income by providing a fair and equitable long-term producer storage program for wheat and feed grains.

(Reported to House from the Committee on Agriculture with amendment, H. Rept. 96-1029)

Amends the Agricultural Act of 1949 to direct the Secretary of Agriculture to establish price supports under the producer storage program for the 1980 and 1981 crops of wheat and feed grains at not less than $3.30 per bushel for wheat, $2.40 for corn, and appropriate levels for other feed grains. States that such levels are not to be used to determine the level of repayment of storage loans for such crops prior to the maturity date or the levels at which the Secretary may call for such repayment.

Requires the producer storage program to provide for: (1) conditions designed to induce producers to redeem and market such wheat and feed grains at not less than $4.00 per bushel for wheat and not less than $3.00 per bushel for corn; and (2) conditions prescribed by the Secretary under which the Secretary may require the repayment of storage loans, interest, and refund amounts paid for storage.

Deletes the limitation on the size of the wheat farmer-held reserve.

Prohibits the Commodity Credit Corporation from selling any of its stock of wheat or feed grains at less than 105 percent of the then current level at which the Secretary may call for repayment of producer storage loans prior to the maturity dates.