Word: grained
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...European and Japanese goods unless industrialized nations let in more American-grown food. The Government might also expand its aid?$10 million this year ?to farmers who organize cooperative groups that develop foreign markets. One tempting target: China, which has just begun to buy U.S. meat and grain and could use more. Carter has signed a new law that permits indirect Government loans to finance food exports to China and establishes U.S. Agricultural Trade Offices overseas, strengthening efforts currently carried on by embassy officials...
Zooming costs of processing and distribution have created a strange paradox. Higher farm prices instantly bring increases at the grocery checkout, but retail food prices can also go on rising while farm prices drop sharply. Example: the Soviet grain purchase of 1972 and other heavy export demand kicked off a few years of unprecedented farm prosperity. Net farm income more than doubled in three years to an unparalleled $33 billion in 1973, and soaring retail food prices combined with OPEC's oil gouging to produce double-digit inflation. In 1976 and 1977, farm prices broke; farm income shriveled...
...farm income is expected to hit $25 billion this year, almost 25% over 1977 and the third highest on record. But the purchasing power of those dollars is no higher than in 1969. Farmers who raise the grain and cattle curse inflation as vehemently as does the shopper grumbling about the price of bread and steak...
...purposes. All of which should stir pride in the ghost of William Jennings Bryan, who insisted in his 1896 cross-of-gold speech that "the farmer ... is as much a businessman as the man who goes upon the board of trade and bets upon the price of grain...
...food is left over to make the export capacity of American agriculture the hope of the have-not world. Farm-product exports tripled in the past six years to almost $27 billion, helping mightily to offset the cost of imports. The U.S. exports more wheat, corn and other coarse grains (barley, oats, sorghum) than all the rest of the world combined. Pat Benedict and farmers like him are America's best hope to counter the trade challenge presented by the oilmen of Araby and the energetic manufacturers of Japan. U.S. food exports would be higher still were...