A bill to adjust loan levels and target prices on the 1975, 1976, and 1977 crops of wheat, food grains, and cotton.

Provides that the loan rate for wheat shall not be in excess of the parity price of wheat, nor less than 80 percent of the established price therefor. Establishes the price of wheat at 90 percent of the cost of production.

Provides that the loan rate for corn shall not be less than 80 percent of the established price therefor. Establishes the price of corn at 90 percent of the cost of production.

Provides that the loan rate for cotton shall not be less than 80 percent of the established price therefor. Establishes the price of cotton at 90 percent of the cost of production.