National Alcohol Fuel and Farm Commodity Production Act of 1979

National Fuel Alcohol and Farm Commodity Production Act of 1979 - Amends the Rural Development Act of 1972 to replace the current program of loan guarantees for pilot project production of industrial hydrocarbons from agricultural commodities with a program under which the Secretary of Agriculture may guarantee payment of 50 percent of loans made by private lenders to persons constructing and maintaining plants for the production of fuel alcohol derived from agricultural commodities. Authorizes the Secretary to sell such commodities to such loan recipients and to acquire and use distilled dried grains plus solubles (DDGS) from them. Specifies conditions for such loan guarantees and sets the maximum cumulative total of outstanding principal and interest during the period from October 1, 1979 through September 30, 1984 at $600,000,000. Establishes in the Treasury of the United States the Alcohol Fuel Plant Loan Guarantee Fund, and authorizes the appropriation of $60,000,000 for deposit in such Fund for fiscal year 1980.

Amends the Agricultural Act of 1949 to set the loan level for corn at $2.10 per bushel, and the established priced for the 1982 crop at $2.75 per bushel.

Changes the deadline date for proclamation of a national feed grain program acreage from January 1 of the year in question to November 15 of the immediate preceding year. Devises a new formula for the determination of individual farm acreage in such program.

Amends the Food and Agriculture Act of 1977 to set a ceiling for each person receiving price support payments for wheat and feed grains at $50,000 for each crop after the 1981 crop.

Directs the Secretary to study and report to Congress on the uses and marketing of the byproducts resulting from the production of alcohol fuel, including, if appropriate, a market promotion program identifying the foreign markets for such byproducts for human consumption.