Word: ceilingless
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Dates: during 1944-1944
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...this year's crop (27,000,000 bu.) by buying rye futures (i.e., contracts) to deliver rye in December. Large chunks of refugee cash, looking for a profitable place to light, were also plunked down for rye futures. Wheat and corn speculators, balked by ceilings, crowded in on ceilingless rye. Rye prices started up. In a few months they rose some 30? a bu. Chicago's storage elevators became clogged with rye being held off the market for higher prices. Minneapolis' giant Cargill Grain Co., one of the biggest grain operators in the U.S., reportedly caught short...
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