Posted by coonie minnie on November 15, 2020 at 07:18:16 from (65.31.173.114):
In Reply to: farming in the 1970s? posted by swindave on November 15, 2020 at 03:58:43:
Agree with Paul below... Mid 1970's, starting about 1973 grain prices really took off, with corn going from maybe $1.60 a bushel to $4, nearly a 3 fold increase. Export demand and some crop production hiccups- a big frost in 1974 that hit the corn crop, a significant corn blight caused partly by many hybrid companies using susceptible genetics- drove the higher prices. Inflationary trends on most commodities kept farmers bullish for some time. Look around and you will find a lot of grain handling setups from the '70's, and lots of tractors from then as well. Politics changes the export climate, with both Nixon and Carter having policy that affected trade. Better crops and less demand made for lower prices. Rising interest rates made debt unbearable to many by the mid 80's.
Nonetheless, there was a lot of optimism in ag in the '70's, similar to '06-to say, 2015 or so.
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