A bill to amend the Export Administration Act of 1969, to protect the domestic economy from the excessive drain of scarce materials and commodities and to reduce the serious inflationary impact of abnormal foreign demand.

Directs the Secretary of Commerce to undertake an investigation to determine which materials or commodities shall be subject to export controls because of the present or prospective domestic inflationary impact or short supply of such material or commodity in the absence of any such export control. Requires Secretary to develop forecast indices of the domestic demand for such materials and commodities to help assure their availability on a priority basis to domestic users at stable prices.

Requires the Secretary to make public on a weekly basis the anticipated future exports of each group of agricultural commodities for which exporters are required to report.

Directs the Secretary of Agriculture to furnish the following information for each such group of agricultural commodities on a weekly basis to the Secretary who shall make such information public: (1) estimated domestic supply; (2) the estimated domestic requirement by crop year; and (3) the estimated domestic use to date by crop year.

Provides that upon written request by representatives of a substantial segment of any industry which processes materials or commodities which are subject to export controls, the Secretary of Commerce shall appoint a technical advisory committee for any grouping of such materials or commodities to evaluate technical matters, licensing procedures, worldwide availability, and actual use of domestic production facilities and technology.

States that no merchantable unprocessed timber may be sold for export from the United States from Federal lands located west of the one hundredth meridian in the contiguous States. States that such limitation on exports shall stay in effect until the President determines that there is available for domestic use an adequate supply of softwood logs and lumber at reasonable price levels.