Agricultural Act Amendments of 1982 - Title I: Dairy - Amends the Agricultural Act of 1949, as amended by the Agriculture and Food Act of 1981, to direct the Secretary of Agriculture, for FY 1983-1985, to support the price of milk at not less than 70 percent of parity when net costs and net purchases exceed specified amounts. Requires a semi-annual adjustment if such price support is less than 70 percent of parity.
Title II: Wheat - Provides for loans and purchases of the 1982-1985 wheat crops at not less than $3.50 per bushel. Increases the minimum target prices for each of these years from $4.05, $4.30, $4.45, and $4.65 to $4.20, $4.40, $4.60, and $4.80, respectively. Permits the Secretary to establish higher prices as necessary. Repeals authority to reduce loan and purchase levels for a subsequent marketing year if the price of wheat does not rise above 105 percent of the loan level for a particular year.
Title III: Feed Grains - Provides for loans and purchases of the 1982-1985 corn crops at not less than $2.60 per bushel. Bases loan and purchase levels for barley, oats, rye, and grain sorghum on parallel levels for corn.
Increases the minimum 1982-1985 corn target prices from $2.70, $2.86, $3.03, and $3.18 to $2.80, $2.95, $3.10, and $3.25, respectively. Authorizes the Secretary to establish higher prices as necessary. Repeals authority to reduce loan and purchase levels for a subsequent marketing year if the price of wheat does not rise above 105 percent of the loan level for a particular year.
Title IV: Commodity Credit Corporation - Amends the Commodity Credit Corporation Charter Act to: (1) eliminate the Corporation's borrowing ceiling; and (2) authorize necessary appropriations.
Introduced in Senate
Read twice and referred to the Committee on Agriculture.
Referred to Subcommittee on Agricultural Production.
Committee on Agriculture requested executive comment from Agriculture Department.
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