Word: bumpers
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Dates: during 1930-1939
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...levels), the growers at one of the auctions muttered curses, shouted threats, then took to pelting the manager of the "floor" (warehouse) with apples, broke up the auction in a general riot. Several other auctions had to be postponed. Last week Kentucky growers were jubilant. In addition to a bumper crop of fine quality, prices were from 50% to 100% above last year's, soaring above $14 per 100 Ib. at Lexington...
Wheat gyrated back into the news last week with the Department of Agriculture's first estimate of the 1932 winter crop. Where 787,000,000 bu. of winter wheat were harvested in the bumper year of 1931, this year's crop was forecast at 458,000,000 bu., a drop of 42%. The Great Plains had had a dry autumn, a dry winter, a dry spring. Planters were abandoning their winter wheat acreage in the face of drought. The economic consequences of last year's overproduction probably had more to do with a reduced yield than...
...make matters worse the Department of Agriculture last week dismally announced: "The present prospects point to another year of very low prices. No bumper crop is expected for the world as a whole but the very, large stocks remaining in North America, Argentina and Australia promise a plentiful world supply. . . . The total wheat crop of the U. S. is likely to be one of the largest of recent years and to provide a large surplus over domestic requirements...
...wheat speculators as the cause of depressed prices. Almost at the same hour the Department of Agriculture was distributing its July 1 wheat crop estimate. This year's anticipated harvest was set at 869,013,000 bu., an increase of 5.583,000 bu. over last year's bumper crop. Such harvests stack one surplus on top of another, send prices down correspondingly. Acreage which the Farm Board has been pleading with growers to reduce 20% was cut less than 5%. While flaying short- sellers, President Hoover made no reference to the stubborn refusal of farmers to plant less...
...Chicago Board of Trade and the Minneapolis Chamber of Commerce asserted their records showed no excessive short trading. Wheat traders attributed low prices to these three factors: 1) the 200,000,000 bu. the Farm Board was still holding over the market; 2) this year's bumper crop, with its conse quent surplus, as reported by the Department of Agriculture; 3) reduced wheat consumption throughout the world because of hard times. Oldtime traders compared the President's outburst to the Secretary of Agriculture's political scare last year about short wheat sales...