An act to increase the minimum price support loan rates for wheat, feed grains, and soybeans, to improve the farmer-held reserve program for wheat and feed grains, to establish a five-year food security wheat reserve, and for other purposes.

(Measure passed Senate, amended)

Agricultural Act of 1980 - =Title I: Walnut and Olive Marketing Orders= - Amends the Agriculture Adjustment Act of 1937 to authorize the Secretary of Agriculture to issue marketing orders: (1) respecting walnut development projects which provide for any form of marketing promotion including paid advertising; and (2) respecting walnut and olive development projects which provide for crediting the pro rata expense assessment obligations of a handler with all or any portion of his direct expenditures for such promotion.

=Title II: Agricultural Trade Suspension Adjustment Act of 1980= - Amends the Agricultural Act of 1949 to direct the Secretary to increase the price supports for the 1981 crop of corn to not less than $2.25 per bushel. Requires the Secretary to announce any feed grain cropland set-aside by November 1 prior to the year in which the crop is harvested.

Directs the Secretary to increase the price supports for the 1981 crop of wheat to not less than $3.00 per bushel.

Establishes price supports for the 1981 crop of soybeans at not less than $5.02 per bushel.

Directs the Secretary of Agriculture to make available price support loans under the producer storage program for producers of the 1980 and 1981 crops of wheat and feed grains to mitigate the adverse effects of the export restrictions on agricultural products to the Soviet Union. Establishes the levels of such price support loans at not less than $3.30 per bushel for wheat $2.40 per bushel for corn and a fair and reasonable level for other feed grains. Stipulates that the levels of such loans shall not be used in determining the levels at which producers may or must repay loans prior to their maturity dates. Directs the Secretary to waive interest on such loans.

Eliminates the specified levels of market prices for wheat and feed grains at which producers under the producer storage program must: (1) redeem and market such wheat and feed grains; or (2) repay specified loans.

Revises the restrictions on the authority of the Commodity Credit Corporation to sell its stocks of wheat or feed grains to: (1) exempt acquisitions for the food security and trade suspension reserves; (2) set the minimum level for such sales at 105 percent of the then current level at which the Secretary may call for repayment of producer storage loans prior to the maturity dates (formerly, 150 percent of the then current level of price support); and (3) set the minimum level for the sale of corn for use in the production of alcohol for motor fuel at the higher of the price at which producers may repay producer storage loans for the fuel conversion price (formerly set at the release level under the extended loan program).

Authorizes the Secretary to use the funds, facilities, and authorities of the Corporation to purchase agricultural products, other than grains, that were intended to be exported to the Soviet Union, but cannot be exported due to the restrictions.

Permits the Secretary to announce and provide for a set-aside of cropland for one or more of the 1981 crops of wheat, feed grains, upland cotton, and rice, if such action is in the public interest as a result of export restrictions on such commodities.

Authorizes the Secretary of Agriculture to establish a gasohol feedstock reserve and/or a food security reserve of any agricultural commodity of which exports are suspended or restricted for national security or foreign policy reasons which adversely affect prices. Directs the Secretary to announce, within 30 days of such an export suspension or restriction: (1) if such reserves will be established; and (2) the amount of the commodity that will be placed in such reserves.

Authorizes the Secretary to establish a gasohol feedstock reserve and a food security reserve by purchasing suitable commodities from producers or by designation of stocks held by the Corproation. Sets forth conditions for the sale or release of stocks of such reserves similar to those required for the disposal of stocks acquired to mitigate the adverse effects of export restrictions on agricultural products to the Soviet Union.

Authorizes the Secretary to establish a program of loans to assist alcohol fuel processors in obtaining a dependable supply of grain at a reasonable price. Sets forth the terms and conditions for such loans.

Authorizes the Secretary to use the Commodity Credit Corporation to carry out the purposes of the alcohol processor grain reserve program.

Directs the Secretary to study and report to the President and Congress on the potential for expansion of U.S. agricultural export markets and the use of such export in obtaining natural resources or other commodities and products needed by the United States.

Directs the Secretary to carry out demonstration projects to provide agricultural commodities and other foods which might not otherwise be used to community food banks for emergency food box distribution to needy individuals and families. Authorizes the Secretary to utilize food distribution systems currently used to distribute commodities under the National School Lunch Act and the Child Nutrition Act of 1966. Directs the Secretary to select food banks representing an adequate geographic distribution for participation in such projects. Sets forth the application and recordkeeping requirements for participating food banks. Directs the Secretary to select the commodities and foods to be made available under such program. Requires the Secretary to report to Congress regarding the effectiveness of Federal participation in such projects. Prohibits the sale of food pursuant to such projects. Defines the fuel conversion price as that price which permits gasohol to be competitive in price with unleaded gasoline.

=Title III: Food Security Wheat Reserve Act of 1980= - Directs the President to establish and maintain through September 30, 1985, a reserve stock of wheat to be used for: (1) emergency food assistance to developing countries when domestic supplies are limited; and (2) urgent humanitarian relief to any country suffering a major disaster in circumstances of unanticipated and exceptional need. Permits the replenishment of such reserve through purchases which will not unduly disrupt the market and by designation of stocks of wheat otherwise acquired by the Corporation. Declares that wheat released from such reserve shall be made available under the Agricultural Trade Development and Assistance Act of 1954, but shall be exempt from the determinations of availability under such Act.

Directs the Secretary to provide for management of stocks of wheat in the reserve to meet emergency situations and for the periodic rotation of such stock to avoid spoilage. Requires the replacement of any wheat removed from the reserve for such purposes. States that such stocks shall not be subject to specified export limitations.

Provides for stocks of wheat remaining in the reserve after September 30, 1985, to be used for emergency food needs in developing countries.