Agriculture Emergency Act of 1980

Agriculture Emergency Act of 1980 - Amends the Agricultural Act of 1949 to raise the minimum loan and purchase levels which the Secretary of Agriculture is required to make available to producers, for the 1979 through 1981 crops, from $2.35 to $3.90 per bushel for wheat, from $2.00 to $2.50 per bushel for corn, and from 48 cents to 60 cents per pound for cotton. Sets a minimum loan and purchase level for the 1979 through 1981 crops of soybeans at $6.25 per bushel. Directs the Secretary to adjust such levels for such commodities at the beginning of each semiannual period after the beginning of the marketing year to reflect any estimated change in the parity index during such semiannual period.

Prohibits the Commodity Credit Corporation, whenever the extended loan program for producer storage is in effect, from selling any of its stocks of wheat or feed grains at less than ten percent above the level at which the Secretary may call for the repayment of loans under specified conditions, or at less than 20 percent above the then current level of price support for the commodity, whichever is higher, with specified exceptions.

Amends the Agricultural Trade Development and Assistance Act of 1954 to require that the minimum quantities of agricultural commodities distributed for 1981 and each fiscal year thereafter under specified food relief programs be 1,600,000 metric tons of which not less than 1,300,000 metric tons shall be distributed through the nonprofit voluntary agencies of the World Food Program.

Amends the Food and Agriculture Act of 1977 to direct the Secretary to set price support loan levels for agricultural commodities at 90 percent of the parity price whenever the President or any other member of the executive branch suspends export sales of such commodities to any country or area of the world (no longer requiring that such suspensions be directed at countries or areas with which the U.S. otherwise continues commercial trade or be based upon determinations of short supply).

Directs the Secretary to establish land diversion payment programs for the 1980 crops of corn and wheat.

Requires, as a condition of eligibility for such payments, that grain producers devote to approved conservation uses, an amount of cropland not less than a percentage of their 1980 crop planted acreage (15 percent for corn and 10 percent for wheat).

Sets forth formulas for determining the amount of such payments. Sets $1.50 per bushel for both corn and wheat as a payment rate factor in such formulas.

Waives interest payment requirements on price support loans to producers of wheat, corn, grain sorghum, barley, rye, or oats for the 1979 crops for any period after January 10, 1980.