A bill to amend the Export Administration Act of 1969, to provide a formula to control the exports of wheat, soybeans, and corn from the United States.

[AI summary unavailable — showing source text] Requires the Secretary of Agriculture, in consultation with the Secretary of Commerce, to determine for each crop year the amount of wheat, soybeans, and corn needed to meet the requirements of consumers in the United States prior to the beginning of each crop year. States that the quantity of wheat, soybeans, and/or corn remaining, if any, shall be the quantity available for export. Sets forth a formula for determing the amounts needed at home and the amounts available to each foreign country. Provides that no license to export shall be issued unless there is substantial compliance with the provisions of this Act.…