U.S. CERTIFICATES TO PROVIDE WHEAT/CORN SUPPLIES From April through December 1986, the Commodity Credit Corporation (CCC) issued 3.85 billion dlrs worth of generic certificates and about 1.8 billion had not been exchanged by January 1, 1987, the U.S. Agriculture Department said. The department said an additional 4.3 billion dlrs in certificates has been authorized for issuance during January-August, 1987. These certificates will provide ample free supplies of corn and wheat for the remainder of the crop year, the department said in a summary of its Agricultural Outlook report. Freeing of stocks through certificates is making U.S. grain more competitive on world markets, it said. The department said last summer, for example, certificates were exchanged for 215 mln bushels of corn. This helped increase marketable supplies, so farm-level corn prices averaged about two dlrs per bushel -- somewhat lower than they would have otherwise. The lower prices probably led to an increase in usage of 40 to 50 mln bushels, it said. The department said government spending on farm programs in fiscal year 1987 is projected to fall half a billion dlrs from 1986's 25.8 billion dlrs. During 1988 and 1989, the cost escalation of the first half of the 1980's will reverse. If current policy remains in force, annual farm program spending by 1992 will be down from last year's record by more than eight billion dlrs, it said. The department said the President's budget proposals for 1988-1992 would cut farm program spending an additional 24 billion dlrs. In 1987, foreign economic growth is expected to remain close to 2.6 pct, the same as in 1986, but above the 2.4 pct average of 1980-86, it said. Partially because of this improvement, U.S. export volume is expected to rise in fiscal 1987 for the frist time in seven years, the department said.