Word: cornelis
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Grain farmers had bin-bursting harvests in 1979, and that was for the fifth year in a row. Farmers raised a record 7.6 billion bu. of corn. Much of it, 60%, will be used as animal feed; only about 10% will be consumed directly by Americans, usually in bread, breakfast cereal and fructose (a sweetener). The remainder, before Carter's embargo, was destined for export, along with 36% of the 1979 crop of soybeans and 60% of the year's wheat. The embargo is expected to reduce overall exports from the '79 grain crop by 8%. Most export grain travels...
...local grain elevators, the first stop for much U.S. grain after it leaves farm storage bins. At Secor, Ill., four farmers watched the prices fall on a TV screen. "I don't think the shock has hit them," said Manager John Aeschliman. Just before the embargo he bought corn at up to $2.96 a bu.; his first purchase last week was from a scared farmer at $2.12 a bu. At the Pro-Farmer elevator in Cedar Rapids, Iowa, two farmers were willing to sell corn at $2 a bu., compared with $2.25 a bu. before the embargo, but found...
...like the Russians understand is raw, naked power. I just hope the American farmer doesn't have to be the goat." Most Eureka farmers have not yet sold 75% of their 1979 crops. But Johnson was luckier than his neighbors: he contracted to sell his record 1979 harvest of corn and soybeans even before the seed was in the ground, when prices were fairly high. Just a few days after Carter's announcement, Johnson loaded part of his production, about 8,000 bu. of soybeans, aboard a truck bound for the Ralston Purina Co. plant in Bloomington, 20 miles...
Secretary of Agriculture Bob Bergland delivered much the same message to farmers in Iowa, where many of them last year planted extra acres in corn, expecting to sell it to the Soviets. He told an audience in Harlan: "They knew they were taking a risk. Risk taking is part of farming. I have the tough and brutal decision: Do I accommodate those people who have made the wrong decision? Well, no, I don't think we should...
...really need wheat. They already produce more than they consume; they contracted to buy U.S. wheat only because it is a cheaper way of supplying some western and northern Soviet cities than transporting grain from central Asia. Of far more importance to the Soviet economy is U.S. corn, all of which is fed to livestock. Of the embargoed grain for which the Soviets had signed contracts, 65% was corn. CIA studies show that without U.S. corn, the Kremlin's schedules for increasing meat output would be set back by a decade...