Word: cornes
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...allows each member of the Cabinet to express his or her views freely and without fear of being contradicted when called upon to support the final decision. Sometimes this leads to the absurdity of Lord Melbourne saying, in the 1830's, "Now is it to lower the price of corn or isn't it? It is not much matter which we say, but mind, we must all say the same...
...transition period and we have serious problems," says Sayed Marei, President of the Egyptian Parliament and one of Sadat's top advisers. "But I predict that by 1978 our economy will be strong again. If the U.S. could provide us with food-wheat, corn and vegetable oils-during this three-year transition period, we could pour our foreign exchange into economic development...
Inflation Hedge. Under the new grain pact, the Soviets pledged to buy at least 6 million metric tons of U.S. wheat and corn in each of the next five crop years starting in October 1976-whether they need it or not (any surplus presumably would be stored against future Soviet food shortages). They will be permitted to buy as much as 2 million tons more in any year, unless U.S. grain supplies fall below 225 million tons. That has not happened in 15 years; current supplies are 263 million tons. But if the Soviets want to buy more than...
...record U.S. crop. The U.S.S.R. had signed contracts to buy 10 million tons before the embargo; it probably will buy about 7 million tons more between now and the time the five-year agreement goes into effect. Last week the Soviets reportedly bought another 1.2 million tons of American corn...
...Economists, figures that food prices next July will be 10% higher than last July, and that 3% to 4% of that will be the result of grain sales to the Soviets. But most of that rise is over; "the market already has discounted" additional sales, says Eckstein. Wheat and corn futures fell last week on the Chicago Board of Trade, wheat by 18? per bu. to $3.95; corn...