Word: cornes
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...much as 50%. Wheat is headed for a bumper crop of up to 300 million bushels more than last year. There is a good chance that wheat prices will dip this year-unless the Russians come into the market again and bid prices up. Other produce, including tomatoes, sweet corn and green beans, should also be good, and citrus fruits are abundant...
...glum. Last week Farmer Morris Moeckly looked over his rain-swamped land near Polk City, Iowa, and wryly wondered if his biggest crop this year might be fish. About 60 of his 450 acres are still under water, and Moeckly noted, "It will be much too late to plant corn in there...
...Indeed corn, used mainly to fatten animals, is the most threatened feed crop of all. The Government had hoped that 74 million acres of corn would be planted nationally this year, but farmers in most Midwestern states are well behind that schedule. In Iowa, the nation's biggest corn state, deep mud had by last week held plantings to 18% of the total potential acreage, v. 30% at this time last year. Even if the farmers do hit the Government target on acreage, it is doubtful that they will get a big enough crop to fulfill Administration estimates. Seeds...
...Corn shortages would kick up the cost of cattle feed and all but rule out a decline in beef prices in the foreseeable future. Though demand for beef continues to grow, about 3% fewer cattle are now going to market than at this time last year. One reason is that spring cold and storms decimated some herds; a blizzard last month in Iowa wiped out 90,000 head. In addition, cold, wet weather slowed the fattening of many steers, who used up calories just to keep warm. This, too, has hurt, because many ranchers and feed-lot operators...
...this year's crops, especially corn, will be large enough to pull down food prices only if farmers enjoy ideal rain and sunshine, no sudden frosts, an ample supply of fuel and fertilizer and an absence of blight. Such an unbroken string of happy circumstances is as rare in agriculture as eight passes in a row are at the crap table...