After decades of government acreage controls and depressed grain prices, the 1972 Soviet grain deal changed everything, or so it seemed. The Soviets bought 10 million tons of U.S. grain, mainly wheat and corn. Farmers were led to believe a new era was dawning, an era of strong global demand and higher prices. Wheat prices went from $1.75 a bushel to $4.08 in one year.

