Word: bushelful
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...help sell his food-conservation campaign, last week was still plugging his favorite theme. He crowed jubilantly: "We are rolling. The people are picking this up." And he added a flat prediction. Around Jan. 1, he said, the Save-Food program for Europe will reach its 100-million-bushel goal...
...Goes Grain. Tall, aggressive John McDowell, Manitoba legislator-farmer who had campaigned for ending controls and reopening the Exchange, shouted down the rest with his stentorian "Ninety-five for May oats." (The ceiling had been 65? a bushel.) Across the pit a hopped-up trader with right fist up, knuckles outward, all fingers clenched (indicating no fractions) shrieked: "Sold!" A boy chalked the quotation on the board. In a few moments, barley opened at $1.25 (May delivery), up 32? from a 93? ceiling...
...shouts in the pit sent echoes across the prairies. Many farmers were angry because ceilings were lifted after most of their harvest had been sold. Others who had gambled on the lifting of ceilings and withheld their crop were sitting pretty, with paper profits of 20? to 35? a bushel...
...parity law (TIME, Apr. 15, 1946) provides that if wheat falls to $1.89, the Government will start support-buying. If a farmer needs cash, the Government will lend him about $1.80 a bushel and impound his wheat in a federal granary. If the price rises, he can redeem the wheat and sell it at the increased price. Last week, a total of 20.5 million bushels, more than twice as much as last year, was impounded by such loss-proof gambling...
...exchanges, keenly aware of swelling congressional talk of more governmental control, voluntarily took a small step towards slowing down speculation. The Chicago Board of Trade ordered margins increased on a sliding scale. For every 10?-a-bushel increase in the price of grain futures, margins must, in effect, be increased an additional 5?. But the Board of Trade stuck to its contention that Government buying of grain for export was chiefly to blame for food prices, and not speculation...