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S.C. Wisconsin | I sold grain just before the embargo was lifted and got $3.40 a bushel on the farm. It tanked after that as the crowd was hanging on to their grain waiting for the embargo to be lifted. I remember my dad telling me how stupid I was for selling my grain before the embargo was lifted. It got quite quite shortly afterwards. The embargo was poor thought out move by Carter which didn't hurt the Soviets, and then the dollar value went way up which I think had more effect on grain prices then the embargo. That was the beginning of the crash of the 80's. It taught me not to get caught up with the herd mentality in the market. But sometimes I wonder if it really sunk in! | |
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Carter grain embargo
