This Day The Great Grain Robbery (1972)
Jul 15, 2025
In July 1972, Russian officials cut deals in NYC for U.S. wheat, securing almost a quarter of the American crop. Discover why the U.S. was caught off guard and the desperate need for grain in the USSR. The secretive maneuver destabilized markets and raised wheat prices, sending American farmers into a panic. Unravel the chaos in U.S. agricultural policy that followed, fueled by intelligence failures. This event impacted everything from food security to international relations.
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Russia's Agricultural Instability
- Russia had recurring agricultural failures caused by unstable climate. - Their 1971 crop failure forced them to buy massive wheat amounts from the U.S.
Nixon's Political Grain Strategy
- Nixon saw selling grain to the USSR as a way to reduce trade deficits and boost his reelection. - The $750 million credit deal allowed the Soviets to buy wheat with deferred payment.
The Great Grain Robbery Unfolds
- The USSR secretly bought about one quarter of the U.S. wheat crop. - This surprised the U.S. and destabilized wheat prices due to scarcity fears.