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Economic Perspectives, Vol. 4, No. 1, 1980
Agriculture: embargo undermines strong world demand for agriculture
Last year marked the fifth consecutive year of
record domestic crop production. Huge
crops of grains and oilseeds—in light of the
embargo on shipments to the Soviet Union—
are more than enough to meet prospective
utilization. As a result, carryover stocks will
increase substantially, possibly weighing
heavily on crop prices in the year ahead.