A bill to improve agricultural yields in the production of soybeans through the establishment of a Soybean Research Institute jointly supported by the United States and the People's Republic of China.

Directs the President to initiate immediate action to improve agricultural yields in the production of soybeans through the establishment of a Soybean Research Institute jointly supported by the United States and the People's Republic of China. Authorizes the President to bring together representatives from the two countries for the purpose of establishing a Sino-American Soybean Research Institute.

Directs the Institute to: (1) devote its facilities to the need for increased soybean yields and soybean adaptability to new producing regions, (2) develop additional uses for soybeans and soybean products as sources of human and animal protein; and (3) serve as a basis for full cooperation and coordination between the People's Republic of China and the United States in the field of soybean research and technology.

Provides that for the immediate establishment and initial operation of the Institute, the President is authorized to use $2,000,000 annually out of any funds available for the activities of the Agricultural Research Service of the United States Department of Agriculture, or from funds available to any other appropriate Federal Agency.