Word: bu
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Dates: during 1930-1939
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...price rise. On April 1 they had good news. The rye crop was reported in the poorest condition in 55 years. Persistent lack of rain had parched the grain fields of the Dakotas, biggest of U.S. rye producers. Demand for rye on the other hand, normally 35,000,000 bu. per year, would be bigger, since at least 5,000,000 bu. were needed in the whiskey trade. Only one factor disturbed the waiting traders as they contemplated their market-millions of bushels of Polish rye in bonded warehouses along the Atlantic seaboard. By last week this stock was estimated...
...months the Federal Government had been unable to make up its mind what to do about imported rye. The Polish Government had successfully stimulated foreign trade by paying a bounty of 30? a bu. to the exporters of rye. Polish grain traders could thus afford to sell it in the U.S. at the U.S. price or less, even after paying the 15? per bu. tariff rate. Domestic rye producers protested that this would be dumping, urged Secretary of the Treasury Morgenthau to use his powers under the Tariff Act of 1930 to raise the duty on rye by an amount...
...many months there have been large-interests on the long side of the Chicago grain market. President Roosevelt had vowed to boost commodity prices first and at any cost in behalf of the farm producer. Last June wheat ran above $1 per bu. for the first time in three years. But even inflation talk, crop damages and drought could not hold it there, with the result that the long interests grew increasingly impatient. Mr. Morgenthau's pronouncement on rye pulled the plug in the holding dyke. There was not much sense in a heavy long position, traders argued, when...
...fresh selling surged across the Chicago Pit. May wheat dropped 4¼? a bu. Although the price rallied later in the day, it once touched 72⅞?−down more than 14? from the high of the previous week. When President Roosevelt took office nearly 14 months ago, wheat was selling in Chicago at 47? per bu. Since then the AAA has distributed $65,000,000 in subsidies to wheat growers to reduce production. Yet when last week's selling wave was over, wheat stood at 76? per bu. and the present crop carryover promised a surplus...
...less important a New Dealer than Secretary of Agriculture Wallace, as titular head of the Grain Futures Administration, was Speculator Cutten's inquisitor. The Government's chief complaint was that Speculator Cutten had misreported or failed to report his long and short positions of 500,000 bu. or more, as the Grain Futures Act requires. He had, said the Government, "caused and procured various grain firms and persons, by and through whom his trades . . . were made, to keep false records and to make false reports to the Grain Futures Administration." Covering operations during 1930 and 1931, the charges...