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Steagall Amendment
The Steagall Amendment of 1941 (P.L. 77-144) was a US Federal law that required price support for many non-basic commodities at 85% of parity or higher during World War II. In 1942, the minimum rate was increased to 90% of parity and was required to be continued for two years after the end of the war. The Steagall commodities included hogs, eggs, chickens (with certain exceptions), turkeys, milk, butterfat, certain dry peas, certain dry edible beans, soybeans, flaxseed and peanuts for oil, American-Egyptian (ELS) cotton, potatoes, and sweet potatoes The sweet potato or sweetpotato ('' Ipomoea batatas'') is a dicotyledonous plant that belongs to the bindweed or morning glory family, Convolvulaceae. Its large, starchy, sweet-tasting tuberous roots are used as a root vegetable. The young sho .... References *{{CRS, article = Report for Congress: Agriculture: A Glossary of Terms, Programs, and Laws, 2005 Edition, url = http://ncseonline.org/nle/crsreports/05jun/97-905.pdf, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Price Support
In economics, a price support may be either a subsidy, a production quota, or a price control, each with the intended effect of keeping the market price of a good higher than the competitive equilibrium level. In the case of a price control, a price support is the minimum legal price a seller may charge, typically placed above equilibrium. It is the support of certain price levels at or above market values by the government. A price support scheme can also be an agreement set in order by the government, where the government agrees to purchase the surplus of at a minimum price. For example, if a price floor were set in place for agricultural wheat commodities, the government would be forced to purchase the resulting surplus from the wheat farmers (thereby subsidizing the farmers) and store or otherwise dispose of it. Short-term effects Example In a hypothetical market in which supply and demand are such that the equilibrium price and quantity are $5 and 500 units, respectivel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commodity
In economics, a commodity is an economic good, usually a resource, that has full or substantial fungibility: that is, the market treats instances of the good as equivalent or nearly so with no regard to who produced them. The price of a commodity good is typically determined as a function of its market as a whole: well-established physical commodities have actively traded spot and derivative markets. The wide availability of commodities typically leads to smaller profit margins and diminishes the importance of factors (such as brand name) other than price. Most commodities are raw materials, basic resources, agricultural, or mining products, such as iron ore, sugar, or grains like rice and wheat. Commodities can also be mass-produced unspecialized products such as chemical substance, chemicals and computer memory. Popular commodities include Petroleum, crude oil, Maize, corn, and gold. Other definitions of commodity include something useful or valued and an alternative ter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War II
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposing military alliances: the Allies and the Axis powers. World War II was a total war that directly involved more than 100 million personnel from more than 30 countries. The major participants in the war threw their entire economic, industrial, and scientific capabilities behind the war effort, blurring the distinction between civilian and military resources. Aircraft played a major role in the conflict, enabling the strategic bombing of population centres and deploying the only two nuclear weapons ever used in war. World War II was by far the deadliest conflict in human history; it resulted in 70 to 85 million fatalities, mostly among civilians. Tens of millions died due to genocides (including the Holocaust), starvation, ma ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Butterfat
Butterfat or milkfat is the fatty portion of milk. Milk and cream are often sold according to the amount of butterfat they contain. Composition Butterfat is mainly composed of triglycerides. Each triglyceride contains three fatty acids. Butterfat triglycerides contain the following amounts of fatty acids (by mass fraction):The quote values vary by 1–3% according to the source: Butterfat contains about 3% trans fat, which is slightly less than 0.5 grams per US tablespoon. Trans fats occur naturally in meat and milk from ruminants. The predominant kind of trans fat found in milk is vaccenic fatty acid. Trans fats may be also found in some industrially produced foods, such as shortenings obtained by hydrogenation of vegetable oils. In light of recognized scientific evidence, nutritional authorities consider all trans fats equally harmful for health and recommend that their consumption be reduced to trace amounts. However, two Canadian studies have shown that vaccenic acid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Soybean
The soybean, soy bean, or soya bean (''Glycine max'') is a species of legume native to East Asia, widely grown for its edible bean, which has numerous uses. Traditional unfermented food uses of soybeans include soy milk, from which tofu and tofu skin are made. Fermented soy foods include soy sauce, fermented bean paste, nattō, and tempeh. Fat-free (defatted) soybean meal is a significant and cheap source of protein for animal feeds and many packaged meals. For example, soybean products, such as textured vegetable protein (TVP), are ingredients in many meat and dairy substitutes. Soybeans contain significant amounts of phytic acid, dietary minerals and B vitamins. Soy vegetable oil, used in food and industrial applications, is another product of processing the soybean crop. Soybean is the most important protein source for feed farm animals (that in turn yields animal protein for human consumption). Etymology The word "soy" originated as a corruption of the Cantonese or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Flax
Flax, also known as common flax or linseed, is a flowering plant, ''Linum usitatissimum'', in the family Linaceae. It is cultivated as a food and fiber crop in regions of the world with temperate climates. Textiles made from flax are known in Western countries as linen and are traditionally used for bed sheets, underclothes, and table linen. Its oil is known as linseed oil. In addition to referring to the plant, the word "flax" may refer to the unspun fibers of the flax plant. The plant species is known only as a cultivated plant and appears to have been domesticated just once from the wild species ''Linum bienne'', called pale flax. The plants called "flax" in New Zealand are, by contrast, members of the genus ''Phormium''. Description Several other species in the genus ''Linum'' are similar in appearance to ''L. usitatissimum'', cultivated flax, including some that have similar blue flowers, and others with white, yellow, or red flowers. Some of these are perennial pla ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sweet Potato
The sweet potato or sweetpotato (''Ipomoea batatas'') is a dicotyledonous plant that belongs to the Convolvulus, bindweed or morning glory family (biology), family, Convolvulaceae. Its large, starchy, sweet-tasting tuberous roots are used as a root vegetable. The young shoots and leaves are sometimes eaten as Leaf vegetable, greens. Sweet potato cultivars, Cultivars of the sweet potato have been bred to bear tubers with flesh and skin of various colors. Sweet potato is only distantly related to the common potato (''Solanum tuberosum''), both being in the order Solanales. Although darker sweet potatoes are often referred to as "yams" in parts of North America, the species is not a yam (vegetable), true yam, which are monocots in the order Dioscoreales. Sweet potato is native to the tropical regions of the Americas. Of the approximately 50 Convolvulaceae#Genera, genera and more than 1,000 species of Convolvulaceae, ''I. batatas'' is the only crop plant of major importance—some o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
