Word: embargoing
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...major question in the minds of both agriculture officials and U.S. farmers last week was whether President-elect Ronald Reagan would soon lift the grain embargo, which he denounced in his campaign. Asked about the matter last week, Reagan said only that it would require "a great deal of study." Privately, Soviet officials think that Reagan may not end the sanctions. One indication: a declaration two weeks ago by John Block, Reagan's nominee for Secretary of Agriculture, that "food is a weapon." But in an interview with TIME last week, Block softened his words, calling the embargo...
...seems highly unlikely that Reagan will end the restrictions swiftly, since that might enable the Soviets to snap up large amounts of U.S. grain, as they did in 1972. Observes Agricultural Economist Don Paarlberg of Purdue University: "Lifting the embargo would say to consumers that we are exposing ourselves to another great grain robbery by the Soviets, and the price of food in this country would go through the ceiling." World food stocks are now unusually low because of a combination of poor crops and rising demand. Chicago Grain Analyst Conrad Leslie believes lifting the Soviet grain embargo would lead...
Farm experts were betting last week that Reagan will delay action on the embargo. The President-elect might well leave it in force at least temporarily as a way of helping to dissuade the Soviets from interfering in Poland. That decision would not please farmers, who continue to protest the boycott on the grounds that such tactics hurt long-run sales because they drive customers like the Soviet Union to other, more reliable suppliers. But few farmers can still contend that the embargo seriously hurts their profits. Indeed, the outlook for the American farmer has seldom seemed brighter. Prices have...
...success of the 1980 harvest is especially pleasant because the year began so poorly when the grain embargo temporarily disrupted commodity markets and drove prices down. The Federal Government was forced to buy up some 16.5 million metric tons of grain to stabilize prices...
...farm prices a big boost. The cost of grain suddenly shot up by as much as 50%; at that point, buyers snapped up all of the grain in sight and the result was a bonanza for farmers who had been able to ride out the early months of the embargo. "For the first time in 35 years, I'm out of debt," said Clarence Adams of McHenry, Ill. He had sold 30,000 bu. of corn at more than double the $1.50 per bu. price he had expected...