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The Corn Laws were tariffs and other trade restrictions on imported food and corn enforced in the United Kingdom between 1815 and 1846. The word corn in British English denoted all cereal grains, including wheat, oats and barley. [ 1 ] The laws were designed to keep corn prices high to favour domestic farmers, and represented British mercantilism.
According to the United States Department of Agriculture (USDA), the average U.S. yield for corn was 177 bushels per acre, up 3.3 percent over 2020 and a record high, with 16 states posting state records in output, and Iowa reporting a record of 205 bushels of corn per acre. Overall production of corn in the U.S. was 15.1 billion bushels for 2021.
In 1900, corn acreage was double that of wheat in the United States. But from the 1930s through the 1970s soybean acreage surpassed corn. Early in the 1970s grain and soybean prices, which had been relatively stable, "soared to levels that were unimaginable at the time".
In southern Illinois, the second biggest corn-producing state, farmers could actually lose up to $160 an acre growing corn this year, based on corn prices and the cost of production, University of ...
A farmer havests corn in September 2023 near Carlisle. With no uptick in prices in sight, farmers are selling off stored gain to make room for this year's harvest.
By 1897 the American steel rail price had dropped to $19.60 per ton compared to the British price at $21.00—not including the $7.84 duty charge—demonstrating that the tariff had performed its purpose of giving the industry time to become competitive. [64]
The usage of corn for maize started as a shortening of "Indian corn" in 18th-century North America. [22] The historian of food Betty Fussell writes in an article on the history of the word corn in North America that "[t]o say the word corn is to plunge into the tragi-farcical mistranslations of language and history". [8]
From a mid-August peak of a record $8.49 a bushel, corn December futures have fallen to around $7.40 a bushel today. The spread between corn for December 2012 delivery and March 2013 delivery has ...