§1641 Availability of wheat for export; utilization of funds and facilities; prices; authorization of appropriations

Summary

The President can use the Commodity Credit Corporation (CCC) to supply whatever amounts of wheat and wheat‑flour are needed, at the prices needed, to meet the United States’ rights and duties under the International Wheat Agreement of 1949 (signed by Australia, Canada, France, the United States, Uruguay, and certain importing countries) and the later revisions that run through July 31, 1965. The Secretary of Agriculture may also use export‑encouragement program funds, alone or with the CCC, to help meet those same obligations. The CCC must, as much as possible, use normal trade channels and facilities when making wheat available. Certain U.S. pricing rules do not apply to domestic wheat and flour sent to parties to the 1949 agreement and credited to their guaranteed purchases from August 1, 1949, through June 30, 1950. If the Economic Cooperation Administration paid higher prices for such wheat or flour in that period, the Secretary or the CCC may repay the extra amount, and those repayments go back to the appropriation used to buy the grain. Money may be appropriated to cover the CCC’s net costs. For the International Wheat Agreement, 1959, net costs include commercial purchases by importing member countries. For the International Wheat Agreement, 1962, net costs include commercial purchases by member and provisional member importing countries, including some transactions made before formal acceptance if their loading dates are not before the agreement takes effect. The CCC may use its own assets before receiving appropriations.