ERS grain policy reserve review from 1977-80 finds reserves helped stabilize corn price variability

- The main US grain policy from 1977-80 was the Farmer-Owned Reserve (FOR)

- “Farmers were encouraged to put grain in the FOR when stocks were abundant and market prices were low. Isolating reserve grain from the market reduced available quantities

U.S. Department of Agriculture, Economic Research Service, Jerry A. Sharples, "An Evaluation of U.S. Grain Reserve Policy, 1977-80," Agricultural Economic Report Number 4 81, 1982, accessed August 14, 2014, http://naldc.nal.usda.gov/naldc/download.xhtml?id=CAT85840194&content=PDF.

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