Agriculture Emergency Act of 1980

[AI summary unavailable — showing source text] Agricultural Emergency Act of 1980 - Amends the Agricultural Act of 1949 to raise the minimum loan and purchase levels which the Secretary of Agriculture is required to make available to producers, for the 1979 through 1981 crops, from $2.35 to $3.90 per bushel for wheat, from $2.00 to $2.50 per bushel for corn, and from 48 cents to 60 cents per pound for cotton. Sets a minimum loan and purchase level for the 1979 through 1981 crops of soybeans at $6.25 per bushel. Directs the Secretary to adjust such levels for such commodities at the beginning of each semiannual period after the beginning of the marketing year to reflect any estimated change in the parity index during such semiannual period. Prohibits the Commodity Credit Corporation, whenever the extended loan program for producer storage is in effect, from selling any of its stocks of wheat or feed grains at less than ten percent above the level at which the Secretary may call for the repayment of loans under specified conditions or at less than 20 percent above the then current level of price support for the commodity, whichever is higher, with specified exceptions. Amends the Agricultural Trade Development and Assistance Act …