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.

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.

Requires the issuance of an export license to a person exporting wheat, soybeans, or corn for the quantity of such commodity to be exported. (Amends 50 U.S.C. App. 2401 et seq.)