A bill to assure foreign countries that reserve stocks of agricultural commodities stored in the United States under certain conditions shall not be subject to export controls.

Provides that foreign countries and their agencies and foreign companies may purchase and store United States agricultural commodities or products in the United States.

Provides that such agricultural commodities or products, if so purchased and stored as a reserve for a period of 12 months or longer upon approval by the Secretary of Commerce acting in cooperation with the Secretary of Agriculture, may be exported without regard to any export restraints or controls.