Word: bushell
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Dates: during 1940-1949
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First step in using the formula is to determine a base price for the 1909-14 period. This is done by averaging farm prices reported to the Department of Agriculture during these years. For example, cotton averaged 12.4? a pound; wheat 88.4?a bushel; corn 64.2? a bushel...
Third step is to adjust the 1909-14 base period prices by the index of prices paid by the farmer. Thus the parity price for cotton in March was 1.79 times 12.4? , or 22.2? a pound; parity price for wheat was 1.79 times 88.4?, or $1.58 a bushel; for corn...
...farmers would hang on to their wheat for feed. They had another reason. They hoped to have ceilings taken off farm products. Last week, Secretary of Agriculture Clinton Anderson tried another method, not so painless, to get grain. He boosted the ceiling prices on wheat, now $1.80½ a bushel at Chicago, 3?. Up also went corn, 3? oats, 2? and barley...
...profitable to feed corn to produce meat than to sell the grain. So whether these piddling price boosts would lure much more grain off the farms was doubtful. Some experts guessed that grain prices would have to be raised somewhere in the neighborhood of from 25? to 50? a bushel to bring the grain...
...bumper rice crop is coming up - the only bright spot I see in the coming winter of privation. The dipsy-doodle price of rice shows how values have changed. It shot to 280 yen per bushel in the Japs' latter days. At the end, hoarded stocks were dumped. The price fell to 28 yen (briefly) and by now is back to 100 to 120 yen on the black market. The Army has set a military exchange rate of 15 yen to the dollar. But 25 or 30 would be more realistic...