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, and for other purposes.

[AI summary unavailable — showing source text] Prescribes a formula, under the Export Administration Act, for the control of wheat, soybean, and corn exports from the United States. Directs 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. States that the Secretary of Agriculture shall then determine the quantity of each crop available for export. Prescribes the procedures for making such determinations. Provides that, upon request by a foreign country, the allocation percentage of wheat, soybeans, and/or corn exports may be increased to such country when the request results from a natural increase in demand which creates a need which is greater than the amount received. Enumerates the procedures to be followed by the Secretary of Commerce in distributing licenses to exporters.…