Word: corns
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Dates: during 1980-1989
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Joliet Army Ammunition Plant. The Government hopes to sell 1,300 acres of this 23,000-acre compound 50 miles southwest of Chicago. Last year the expendable acreage was leased to local farmers for $750,000; they used it to grow corn, hay, soybeans and other crops, and to graze livestock. Farmers like John Nugent of Manhattan, Ill., who now rents some of the land for $95 per acre, are interested in buying "if the price is right." Harold Holz, who manages the land for the Uniroyal Corp. under a federal contract, says that the grazing land is worth around...
...still be the case despite the White House announcement, three days before the Iowa visit, that the President was extending for one year the grain supply agreement with the Soviet Union that is due to expire this September. Speaking last week to some 5,000 members of the National Corn Growers Association and their guests in Des Moines, assembled in the half-filled Veterans Memorial Auditorium, Reagan proclaimed: "The granary door is open, and the exchange will be cash on the barrelhead...
...long-term pact with Moscow that would guarantee sales over several years and assure them of a buyer for their bulging surpluses. Reagan's decision clearly left most of them disappointed. The extension permits the Soviet Union to buy a minimum of 6 million tons of corn and wheat, but requires further consultation between Washington and Moscow for a deal of more than 8 million tons. Farmers believe that the U.S. could easily sell Moscow as much as 23 million tons over the next year. The U.S.S.R. has just suffered its fourth bad harvest...
...farmers are hurting equally. Grain farmers are in the worst shape: corn producers are even worse off than wheat growers because there is less demand abroad for their crop. Those who raise hogs and cattle are doing relatively better, thanks to climbing meat prices and, ironically for grain growers, the low cost of feed. Dairymen, who make up only 13% of all farmers, are faring best of all, since Washington buys up nearly all of their surplus products; last year the Federal Government paid out more than $2 billion in dairy price supports...
...Only 15% of the country's land is arable, and, to make matters worse, the government's agriculture program has badly faltered. As a result, Kenya, once self-sufficient in food production, has become a chronic importer of expensive grains, including the daily staple, corn. Prices for the country's traditional exports (coffee, tea, livestock products) have drastically fallen. Kenya is expected to run a balance of payments deficit of as much as $1 billion this year. Per capita income, only about $400 annually, is declining...