A bill to prohibit wheat sales to the Soviet Union until October 1, 1976, unless the President reports to the Congress, after May 31, 1976, that such sales will not cause serious domestic price increases.

Prohibits any person doing business in the United States from selling wheat to the Soviet Union until October 1, 1976, unless the President determines that such sales will not cause serious domestic price increases.

Imposes a fine of not more than $10,000 or imprisonment for not more than one year, or both, for violation of this Act.