Word: bushelful
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Dates: during 1950-1959
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...Bushel by bushel, bale by bale, the U.S. has succeeded in cutting down its embarrassing surplus of farm products by $2.9 billion since 1954 (still leaving more than $8 billion), the White House reported last week to Congress. Of that amount, $1.2 billion in surplus food, tobacco and cotton was either sold, bartered (for precious minerals and other materials), or given outright to the needy during the first six months of 1956. Overall, the U.S. lost money in the disposal, from 1) a $1.3 billion deficit on the actual sales and donations, 2) the exchange of surpluses for foreign currency...
...Chicago Board of Trade, the star performer for weeks has been the versatile soybean, the eighth most valuable U.S. farm crop. Since the first of the year, Europe's freeze, which ruined the olive-oil crop, has sent the oily soy soaring nearly $1 a bushel to the season's high of $3.42 per bushel. While other farm commodities did poorly, the soy did nip-ups for happy speculators: exports from Oct. 1 to March 31 rose nearly 1,000%, compared with the same period a year ago, while domestic producers crushed the beans at a record rate...
...midweek the inevitable happened. As trading volume reached an alltime high of 66,205,000 bushels, prices for July futures, i.e., July delivery, dived the permissible 10? limit for the day. The next day the same thing happened as speculators with tiny margins and quick reflexes hastened to unload. Rumors that the Commodity Exchange Authority (the SEC of commodity trading) was going to investigate possible market rigging brought still more stop-loss orders pouring in. At week's end, the CEA investigation rumors quieted; July futures closed at $3.20 per bushel, a loss of about 22? in three days...
...selective, largely by crop. Many Southern farmers are angry because the support prices on cotton and peanuts will be considerably below last year's. There is some anger and disappointment among wheat farmers because the wheat price support announced by the President (a national average of $2 a bushel), although 19? above the previously announced price, is 8? below last year's average...
...corn price situation is similar: the President's guarantee adds up to a national average of $1.50 a bushel, 10? above the previously announced level, but 8? below last year. Nevertheless, many corn farmers seem to be pleased. At a Senate Republican Policy Committee meeting last week, a colleague turned to corn-growing Illinois' corn-saying Everett Dirksen and cracked: "Ev, it looks as if Benson, of all people in the world, just re-elected...