Agricultural Surplus Commodity Reduction Act of 1987

[AI summary unavailable — showing source text] Agricultural Surplus Commodity Reduction Act of 1987 - Title I: Wheat - Subtitle A: Marketing Quotas - Amends the Agricultural Adjustment Act of 1938, effective for the 1988 through 1990 wheat crops, to direct the Secretary of Agriculture to proclaim national marketing quotas for wheat: (1) for each of the 1988 through 1990 marketing years by May 15, 1987; and (2) for each of the 1991 through 1993 marketing years by April 15, 1990, if 1988 through 1990 marketing quotas are approved by referendum as provided for by this Act. Bases the national quota on domestic and export requirements, emergency food aid needs, and adequate carryover stocks. Bases farm marketing quotas on the 1981 through 1985 plantings. Subjects producers and purchasers of excess marketed wheat to specified fines and criminal penalties. Sets forth the conditions under which such penalties shall be applied. Permits excess wheat to be stored and marketed in succeeding years under specified conditions. Provides that: (1) if national marketing quotas are proclaimed the Secretary shall conduct a referendum to determine whether eligible producers favor or oppose marketing quotas (in lieu of target prices and deficiency p…