Word: bu
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Dates: during 1980-1989
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Long jump--1. Johnson (H) 23-1 3/4; 2. Adu (BU...
...weight--1. Hegarty (BU) 62-8 3/4; 2. Stirling (T) 59-1 1/2; 3. Lenz...
Commodities trading is a nerve-racking business even under the best of circumstances, and hundreds of thousands of dollars can be won-and lost-by a 10? swing in the price of, say, soybeans, which were selling last week for as much as $6.58 per bu. But the speculative market performs an essential function: it helps give stability, or at least predictability, to the future price of grain. That enables everyone from Nebraska wheat growers to Boston bakers to make intelligent forecasts. Each one can determine just how much he will have to spend to buy or, conversely, how much...
...example, that an Iowa farmer expects to harvest 50,000 bu. of corn in six months' time. By checking with his broker, he finds that the six-month future price of corn is $2.75 per bu. The farmer calculates that $2.75 per bu. for his crop would be a fair price, so he guarantees that he will get it by "hedging," or agreeing in advance to sell a contract for 50,000 bu. at that price in the futures market. This protects him against a drop in grain prices...
These innovations created spectacular crops. Since 1940 the American wheat yield per acre has more than doubled, from 15.3 bu. to 34.2 bu., and the corn output has almost quadrupled, from 28.4 bu. to 109.2 bu. Soybeans, which grow lavishly in the same weather and soil conditions as corn, expanded spectacularly. Production increased from 555 million bu. in 1960 to 2.2 billion bu. last year. While a Soviet farmer grows 45 bu. of corn an acre, his American counterpart produces 109 bu...