Word: bu
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Dates: during 1980-1989
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...slowly than inflation since 1979. But last week the Government disclosed that the combination of bad weather and a controversial farm-subsidy program may augur steeper increases ahead. Based on an Aug. 1 survey, the Department of Agriculture estimated that the 1983 corn crop will be only 5.24 billion bu. That output would be 38% below last year's record level and would represent the smallest harvest since...
...surpluses by giving surplus grain to farmers who idle their land. The program, which some critics label a windfall, brought about a planned 27% drop in the corn acreage planted this year. In July the Government estimated that the reduction would trim the 1983 corn harvest to 6.2 billion bu...
...drought and torrid temperatures quickly threw that forecast off kilter by at least 1 billion bu. The harsh weather arrived just as the corn was entering its crucial tasseling stage and kernels were starting to form. Now cornstalks are dying weeks ahead of schedule, as much of the farm belt's normally rich, brown soil is becoming increasingly yellow and cracked. Says Larry Quandt, who raises corn and soybeans in southern Illinois: "If the drought lasts any longer, it's going to be an extremely rough year...
DIED. Luis Buñuel, 83, Spanish film maker considered one of the cinema's greatest artists; of bile duct disease; in Mexico City. Son of wealthy, religious parents, Buñuel and his friend Salvador Dali transfigured their fantasies in 1929 into one of the first surrealist films, Un Chien Andalou (An Andalusian Dog), a work of bizarre images including a man slashing a woman's eyeball with a razor. In 1930, L'Age d'Or (The Golden Age), with its brutal attacks on Roman Catholicism and bourgeois morality, established the ideological foundation for most...
...result, wheat stockpiles are actually expected to grow this year. For every other commodity, however, PIK appears to be succeeding in drawing down the enormous surpluses. The USDA predicts that the unsold carryover of feed grains, mostly corn, may dwindle from 3.4 billion bu. to 2 billion bu. by the end of the year, a reduction of about 40%. Rice stocks are expected to be cut by almost half, from 68.2 million cwt. (hundredweight) to 36.3 million cwt. "Without PIK, we would have had a market glut like we've never seen," says Agricultural Economist Barry Flinchbaugh of Kansas...