Surplus Production: Mountains of Corn & Debt

Karl Boekenhauer>NIU Collection>NIU Collection, Segment 4

Surplus Production: Mountains of Corn & Debt,

duration 01:51
A natural disaster could quickly eliminate present corn surplus. Karl relates seeing mountains of unshelled corn at intersection of hwy 23 & 30 in Waterman, IL. Country Elevator could not afford all of the surplus corn he saw. He suspects a lot of surplus is being held as collateral for loans. Farmer can pay the loan back in dollars, or in the corn collateral.