Farm Programs Adjustment Act of 1986

Farm Programs Adjustment Act of 1986 - Amends the Agricultural Act of 1949 to set 1986 and 1987 farm program payment yields at not less than 1985 levels.

Nonprogram Crop Amendments Act of 1986 - Amends the Agricultural Act of 1949 to authorize the Secretary of Agriculture (in addition to existing conservation use requirements) to permit specified nonprogram crops to be planted on underplanted acreage (under an acreage limitation program) for the 1986 through 1990 crops of wheat, feed grains, rice, and upland cotton only if such production: (1) is not likely to increase price support program costs and will not adversely affect existing producers of such nonprogram crops; and (2) is necessary to provide an adequate supply of the commodity, or to encourage domestic industrial use of a commodity not yet in use.

Waives such provision if a producer shows that prior to February 16, 1986, he or she planted or contracted to plant nonprogram crops on such acreage. Subjects a producer who knowingly provides false waiver information to a penalty.

Gives 1986 wheat producers the option of planting five or ten percent (currently only ten percent) of their acreage to conservation use prior to the Secretary's announcement of the terms of acreage limitation for that crop.

Extends the milk production termination program (program) sign-up period through April 1, 1986.

Provides that, for purposes of submitting bids under such program, a producer's marketing history shall be: (1) in the case of a producer who participated in the pre-Food Security Act of 1985 milk diversion program, and at his or her option, either the 1985 milk marketings or the marketing history used for such diversion program; and (2) in the case of a non-diversion producer, the smaller of milk marketings in 1985 or the 12-month period beginning July 1984. Makes such provision effective as of December 23, 1985.

Directs the Secretary, for purposes of program dairy production base reductions, not to consider as dairy cattle beef-dairy cross-bred progeny not intended for dairy use.

Directs the Secretary to make specified payment limitation determinations relating to a disapproved farm operating plan payment limitation review.

Amends the Food Security Act of 1985 to authorize the Secretary to use unspecified (currently specified) amounts of Commodity Credit Corporation funds or commodities for FY 1986 through 1988 targeted export assistance.

Reduces the minimum value of agricultural commodities to be used for FY 1986 through 1988 foreign market development.