Word: bushel
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Dates: during 1970-1979
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Wholesale prices received by farmers for some key products have dropped sharply since last winter (see chart); between February and May, wheat fell from $5.52 a bushel to $3.52, and corn from $2.76 to $2.45. Food processors and retailers have by no means passed the full decline along to consumers as yet. In fact, retail food prices overall rose .9% in May, but meat, poultry and egg prices went down...
Primaries are the tarot cards of politics, but experts who try to read them in this roiled year are having problems of perception. The voters have been re-nominating incumbent Congressmen by the bushel while rejecting some other experienced officeholders out of hand. Last week's California primary was probably the most revealing so far. With gubernatorial races in both parties and an anticorruption referendum of unprecedented scope and complexity, Californians seemed to be saying that they are standoffish toward all candidates. At the same time, the voters are enthusiastic about fundamental political reform...
Moneymen are also cheered by a recent sharp plunge in some commodity prices. Wheat, for example, dropped from $6.11 per bushel in February to $3.62 last week, beef cattle from $46.25 per hundredweight to $38.90, and steel scrap from $115 per ton to $100. If these drops continue, economists believe, corporations will stop scrambling to borrow in order to stockpile raw materials. Indeed, they may sell off some of their present inventories and start repaying their loans...
Contracts for July delivery of wheat, which sold in February for as much as $5.85 a bushel, are now down to about $4.10. Corn has dropped from $3.50 a bushel to $2.55; and soybeans have fallen from $9.03 to $5.35. A dive in demand for red meat at supermarkets, reflecting consumer resistance to high prices, has hit the cattle market. Steers last week sold for $41.50 per 100 Ibs. v. more than $50 in late January...
...trickle of mail from seven readers. In subsequent months G. Gordon Liddy, L. Patrick Gray, John Dean and James McCord would all appear on TIME covers, and the response to Watergate would grow to a flood of 23,000 letters. Wrote one critic of the President, "When the whole bushel of apples is rotten, we had better find a new picker." The Administration had its defenders as well, of course, nearly 4,500 of whom raced for their pens after TIME'S editorial in the Nov. 12 issue calling for the President's resignation...