Word: grained
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...mystery how Moscow coped with the grain embargo. Once the Soviets were cut off from all but 8 million of the 27.5 million metric tons of grain they wanted from the U.S., they simply began offering premium prices to other grain-exporting countries. Argentina, which refused to honor the embargo from the beginning, increased its export earnings last year by an estimated 30% through sales to the Soviets. In November, Canada and Spain announced that they were stepping up exports to the Soviet Union. The Canadians originally supported the boycott but then withdrew from it because they claimed that American...
...embargo disrupted Soviet imports noticeably for only a few months. By the end of 1980, the Soviets had been able to buy elsewhere all but about a few million tons of the grain they wanted. A U.S. Department of Agriculture official now quietly concedes that what began as a "powerful political statement" ended as an "economic failure...
...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...
...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 been rising fast, and the market for U.S. grain continues to expand. Says Agriculture Department Analyst Paul J. Meyers: "The long-term trend is for growth in the export trade and for relatively higher prices." Meyers predicts that the U.S. will export 1.53 billion bu. of wheat in the current fiscal year, compared with a record 1.38 billion last year...