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In July 1973, the Soviet Union purchased 10 million short tons (9.1 × 106 t) of grain (mainly wheat and corn) from the United States at subsidized prices, which caused global grain prices to soar. Crop shortfalls in 1971 and 1972 forced the Soviet Union to look abroad for grain. Hoping to prevent famine or other crisis, Soviet negotiators ...
The same strategy was used to very different effect by civilian corn-factors who hoarded grain to simulate shortages and raise grain prices on the open market. [30] [31] The provision of grain to Rome was a major shipping and administrative task.
One bushel of corn can produce 2.8 gallons of ethanol in as well as 17-18 pounds of DDGS. [13] Compared to other major sources, corn is the least efficient means of ethanol production. In 2007, the production process used 75% of the energy extracted. [14] [needs update] On account of great demand for ethanol, corn is fetching higher prices.
The Minneapolis Grain Exchange (MGEX) is a commodities and futures exchange of grain products. It was formed in 1881 in Minneapolis, Minnesota, United States as a regional cash marketplace to promote fair trade and to prevent trade abuses in wheat, oats and corn. MGEX became a subsidiary of Miami International Holdings after the two companies ...
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.
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".
India's relation to the international grain market, was an important part of the 2020–2021 Indian farmers' protest-- with many of the more active protests in the Punjab region. Protection against international market prices has been an important part of how some countries have responded to the volitility of market prices.
The following are international Maize (corn) production statistics come from the Food and Agriculture Organization figures from FAOSTAT statics The quantities of corn (maize, Zea mays) in the following table are in million metric tonnes (m STs, m LTs). All countries with a typical production quantity of at least 10 million t (11 million short ...