This was not sponsored by the University, instead it was created by an anonymous student and placed on the Pentacrest where the monument would have been as the University did not create a monument that year. The Press Citizen cites a "new direction" on campus and the cost, "about $1000 a year plus $500 to resod the Pentacrest lawn after the monument is burned," as the causes for the tradition to be discontinued.
The Hawkeye Engineer December 1978 issue claimed, "students were more concerned with politics and war, and the Monument was dropped, along with the Homecoming Dance and Homecoming Queen." The Vietnam War was in its 15th year at the time of Homecoming 1971.
"World's Largest Homegrown I-Beam" This year marked its return to the Pentacrest for the first time since 1970.
Hawkeye Engineer December 1978 Issue description of the Monument:
Standing twenty feet tall in the shape of a 3-dimensional "I" and using approximately 3500 ears of corn, the top cross had to be lifted into place using a crane whose services were donated by a local company.
Scanned from the December 1978 issue of Hawkeye Engineer
Per the Hawkeye Engineer December 1978, the 1976 Monument marked the return of the Corn Monument Tradition due to the efforts of Tom Bresaw, Art Petrzelka, and Steve Poma. However, it did not resume its placement on the Pentacrest as it was designed as a parade float and was not burned due to local ordinances. This design paid homage to the first Corn Monument in 1914 with its obelisk design.