§1641 Availability of Wheat for Export; Utilization of Funds and Facilities; Prices; Authorization of Appropriations

Summary

The President, using the Commodity Credit Corporation (CCC), may provide wheat and wheat flour at needed amounts and prices so the United States can meet its rights and duties under the International Wheat Agreement of 1949 and its renewals through July 31, 1965. The Secretary of Agriculture may also use export-program funds, alone or with the CCC, to help meet those U.S. obligations. The CCC must, as much as practicable and consistent with its mission, use normal trade channels and facilities when making wheat and wheat flour available. Two federal pricing rules (in title 22 and title 15) do not apply to U.S. domestic wheat and wheat flour sent to Agreement countries and counted as guaranteed purchases from August 1, 1949 through June 30, 1950. If the Economic Cooperation Administration paid higher prices for such shipments in that period, the Secretary of Agriculture or the CCC may reimburse the ECA for the excess, and those repayments go back to the appropriations used. Congress may appropriate whatever sums are needed to cover the CCC’s estimated or actual net costs in carrying out these duties. Net costs for the International Wheat Agreement of 1959 include commercial purchases by importing members. Net costs for the International Wheat Agreement of 1962 include commercial purchases by member and provisional member importers, including some transactions made before formal acceptance if the loading period is not earlier than the agreement’s start. The CCC may use its own assets in advance of receiving those appropriations.