A bill to adjust target prices and loan and purchase levels on the 1976 crops of corn, wheat, and soybeans, to provide price support for milk at 100 percent of parity with quarterly adjustments for the period ending March 31, 1978.

Amends the Agricultural Act of 1949 to provide that the established price for the 1976 crops of corn and wheat shall be 100 percent of their respective parity prices. Directs the Secretary of Agriculture to make available to producers loans and purchases of the 1976 crops of corn, wheat, and soybeans at 90 percent of their parity prices. Prohibits the Commodity Credit Corporation from selling any of the corn, wheat, or soybeans owned or controlled by it at less than 110 percent of their respective parity prices. Establishes a price support for milk at 100 percent of its parity price until March 31, 1978. Provides for the quarterly adjustment of support prices by the Secretary.