Agricultural Act of 1987

[AI summary unavailable — showing source text] Agricultural Act of 1987 - Title I: Price Support for Producers of Wheat, Feed Grains, Rice and Upland Cotton - Subtitle A: Commodity Credit Corporation - Amends the Commodity Credit Corporation Charter Act to increase the Commodity Credit Corporation's borrowing authority from $25,000,000,000 to $40,000,000,000. Subtitle B: Agricultural Farm Programs - Amends the Agricultural Act of 1949 with respect to the permitted acreage eligible for established price payments. Reduces the established price of wheat: (1) from $4.29 per bushel to $3.94 per bushel for the 1988 crop; (2) from $4.16 to 3.55 for the 1989 crop; and (3) from $4 to $3.19 for the 1990 crop. Reduces the established price for corn: (1) from $2.97 per bushel to $2.73 per bushel for the 1988 crop; (2) from $2.88 to $2.45 for the 1989 crop; and (3) from $2.75 to $2.21 for the 1990 crop. Reduces the established price for upland cotton: (1) from $0.77 per pound to $0.714 per pound for the 1988 crop; (2) from $0.745 to $0.643 for the 1989 crop; and (3) from $0.729 to $0.579 for the 1990 crop. Reduces the established price for rice: (1) from $11.30 per hundredweight to $10.50 per hundredweight for the 1988 crop; (2) from $10.95…