Word: wheats
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Dates: during 1980-1989
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That was the mood in which Carter had gone on television to order an unprecedented series of retaliations against the Soviet Union, highlighted by an embargo on the sale of $2.6 billion worth of corn, wheat and soybeans. For the first time in two months the 50 American captives in Tehran faded into the background. Said one high U.S. official: "The hostages are a burning but historically insignificant issue." Instead, the world now focused its attention on the more important?and potentially far more dangerous ?confrontation between the U.S. and the Soviet Union...
...Grain exports are measured in metric tons, equal to about 2,205 Ibs. A metric ton of soybeans contains about 37 bu., of wheat about 37 bu., of corn about...
...brunt of Carter's campaign would still have to be borne by the U.S. grain industry, which has long been one of the wonders of the world. A century ago, when the enormous fields of the West were first being sown, Frank Norris marveled at the richness of the wheat crop: "There it lay, a vast silent ocean, shimmering a pallid green under the moon and under the stars; a mighty force, the strength of nations, the life of the world. There in the night, under the dome of the sky, it was growing ..." In the decades since, production...
...good show of short-term strength, yet its long-term value is arguable. Says Richard Kjeldsen, senior international economist for the Security Pacific National Bank: "I cannot think of a single unilateral embargo that has been effective. Nor can I think of an instance in the past when wheat-producing countries have actually got together to function in some concerted, cartel-like operation. An embargo on grain shipments is simply a very leaky boat...
...Carter Administration has been trying to persuade other wheat-exporting nations to cooperate with the embargo and not sell the Soviets the 17 million metric tons of grain eliminated by the U.S. So far, Canada and Australia have given "pretty firm" commitments to go along with the embargo, while Argentina is a question mark. Even if these nations do cooperate, the Soviets may still find other ways to get their grain. Says Verel Bailey, an Iowa corn grower: "The Russians are very effective in manipulating international pipeline supplies. It would not surprise me if a lot of grain starts heading...