You lose one of your corns - if you only have 1 corn in your empire, then you will no longer have access to it. The main advantage of trading resources is when you have more than 1 source of something, then you can trade it for something different.
Yep, if you've got loads of corn you might as well trade it for some other resources from the AI's. Be warned though, they are wise to the ways of trading. You cant offer someone a spare corn in exchange for thier only Iron resource, they aint as dumb as they look
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