Agricultural Trade Suspension Adjustment Act of 1980

Agricultural Trade Suspension Adjustment Act of 1980 - Amends the Agricultural Act of 1949 to direct the Secretary of Agriculture to make available price support loans for producers of the 1979 through 1981 crops of wheat and feed grains to mitigate the adverse effects of the export restrictions on agricultural products to the Soviet Union. 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.

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). Defines the fuel conversion price as that price which permits gasohol to be competitive in price with unleaded gasoline.

Requires the Corporation to acquire specified minimum amounts of wheat and corn to ensure that export restrictions on agricultural products to the Soviet Union do not adversely affect prices producers receive for agricultural commodities. Prohibits purchases at prices less than the national average market prices producers receive immediately prior to the imposition of such export restrictions.

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 stocks to avoid spoilage. Requires the replacement of any wheat removed from the reserve for such purposes. States that such stocks shall not be considered a part of the total domestic supply and 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.

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 1980 or 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 Corporation. 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.

Directs the Secretary, in cooperation with the U.S. Trade Representative, to study and report to Congress on the potential for expanding U.S. agricultural export markets and the use of such exports in obtaining products needed by the United States.