A bill to guarantee that producers have received their cost of production for wheat exported from the United States.

Prohibits the export of wheat from the United States for which producers have been paid less than their costs of production, effective on the ratification of agreements with Canada and Australia to maintain equivalent export prices. Expresses the sense of Congress that the President should initiate negotiations to reach such agreements.

Permits: (1) the purchase of wheat by the U.S. Government at or above the cost of production and its donation or sale to less developed countries; (2) the export of wheat donated by producers for foreign food relief; and (3) the payment of premiums and discounts for wheat based on quality factors.