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southern MN | Those were some bad times.
Nixon and then Carter used grain embargoes as weapons; the food-short areas of the globe took notice that we used food as a weapon and looked to ensure other sources and not depend upon us. I think that effect runs through today. And is a reason South America is built into the amount and type of grain supply that it is.
The USA economy was all mixed up, making grain pricing difficult internally and around the globe. With that inflation and interest rates, I remember wanting to get a grain check to the bank on a Friday before 2:00pm so I would get the 3 extra days of interest it was worth chasing after - and my grain checks were not that big back then.
Bandaid measures to support farmers led to ever increasing USA and world stocks of grain. The only way to get by on the low subsidized prices the govt doled out was to produce even more; which added to the stockpiles, which lowered prices, which......
The govt finally changed to not planting some acres to prevent the expanding over supply. Which seemsto be the only farm program any city person has even noticed or heard of, getting paid not to plant? Was really a very short set of programs.
Took the continent wide drought of 1988 to finally get a manageable handle on USA grain supplies.
I'm sure I have some details wrong, but kinda how I remember it.
Paul
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Farm strike 1978
