Ignore economic regulations primarily to monopolise wheat (4)
I believe the answer is:
corn
'wheat' is the definition.
(synonyms)
I cannot understand how the remainder of the clue works.
(Other definitions for corn that I've seen before include "Something unoriginal - cereal plant" , "Type of cereal" , "Crop - growth" , "Maize" , "Cereal crop; callus" .)