Word: depression
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Dates: during 1980-1989
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...lower food prices for the general public. It would also be a benefit to those U.S. farmers who buy grain for their livestock. Says Sung Won Son, senior vice-president and chief economist for Northwestern National Bank in Minneapolis: "Having the grain overhang the market will psychologically and actually depress market prices. The grain exporters and elevators are large enough to survive the crisis. The real hardship will be down on the farm." Experts figure that the embargo will cut farm income this year by 10%. The loss will ripple through the farm economy, affecting rural bankers, storeowners, feed companies...