A bill to promote United States trade in agricultural commodities, and for other purposes.

Directs the Secretary of Agriculture to: (1) initiate discussions with other major grain-producing nations (including European Economic Community members, Canada, Australia, and Argentina) leading toward an agreement to reduce grain production; and (2) report to the Congress by March 1, 1988.

Directs the President to enter into joint development assistance agreements with nations having a positive trade balance with the United States.

Amends the Foreign Assistance Act of 1961 to: (1) prohibit the use of U.S. assistance for construction projects which would be detrimental to American farmers; and (2) limit the use of U.S. assistance to purchase foreign goods and services.

Directs the Secretary to require that countries receiving U.S. food assistance give future purchase preference to U.S. food and food products.

Amends Federal law to direct the Commodity Credit Corporation to make agricultural commodities available free to nonprofit organizations to promote U.S. agricultural marketing abroad.

Requires that at least one-third of foreign assistance funds be used to make U.S. food commodities available to foreign countries pursuant to the Agricultural Trade Development and Assistance Act of 1954.