Word: grained
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...Grain Glut...
...Kohl gave a critical edge to that remark by referring to the gas pipeline from the Soviet Union that a consortium of Western European nations is financing and building despite the protests of the Reagan Administration. The Chancellor coolly alluded to the fact that the U.S. was still selling grain to the Soviets while leveling sanctions against European firms that were working on the pipeline. Said he: "One should not demand of the other what one would not like to have demanded of oneself." Kohl also reaffirmed West Germany's longstanding trade relations with the Soviet Union and Eastern...
...decade absorbed more than a quarter of U.S. farm output and most of the surpluses, and thus helped to prop up prices, but the value of exports fell this year (from $43.8 billion to $40.5 billion) for the first time since 1969. Meanwhile, millions of tons of grain-35 million tons of wheat alone-sit unsold in overflowing silos and elevators across the U.S. heartland. Storage space is so tight that grain is even piling up outside, covered only by tarpaulins. This year for the first time farmers will clear less money ($19 billion) than they pay out in interest...
Parts of the farm economy are doing well. Pig producers are thriving: demand is strong because herd size was cut last year and feed is cheap because of the grain glut. Dairy farmers stay fat at Government expense. The USDA will buy dairy products for 13.10 per Ib. no matter how low the market price drops. Such purchases this year will amount to $2 billion, or about $10,000 for every U.S. dairy farmer. The result is heaps of cheese and butter, paid for by taxpayers, 270 million lbs. of which the Government will give away this year...
...they too can avoid flat-out failure by falling into Government safety nets. Steffen, for instance, took out a $19,500 federal loan last spring, using his corn crop as collateral. Back then the collateral was appraised by Washington at $3.15 per bu.; today Steffen's local grain elevator is paying just $1.99 for corn. Steffen may default on the loan, effectively selling his corn to the U.S. Government for a dollar more than anyone else would pay for it. Tens of thousands of farmers are expected to do the same this year, without stigma, although the Government already...