International Grain Reserve Act

[AI summary unavailable — showing source text] International Grain Reserve Act - Directs the Secretary of Agriculture to establish an International Grain Reserve of not less than 200,000,000 bushels of wheat and other grain: (1) to provide emergency humanitarian disaster relief in foreign countries; (2) to assist any developing country to meet its food requirements in years of severe shortfall; and (3) to meet any reserve stock objectives of the United States that may arise under the Wheat Trade Convention. Requires the Secretary to pay, in addition to any other support price benefit due, a special support payment of up to 50 cents per bushel. Sets the purchase price for reserve stocks at 125 percent of the established price when the market price is between 125 and 135 percent of such price. Allows a producer to remove his contributed share from the reserve, subject to specified penalties, whenver the market price for a commodity is 175 percent or more of the established price. Authorizes the Secretary to purchase at market price up to 50,000,000 bushels of grain and wheat to be stored in the stocks of the Commodity Credit Corporation exclusively for the purposes of this Act.…