Word: corns
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Dates: during 1940-1949
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...gong rang, signaling, the start of trading in the Chicago Board of Trade. Half an hour later, the pits were a pandemonium of roaring voices and flapping arms. Selling orders had flooded the exchange. At 10:15, traders yelled "Basement!" which meant that May corn had fallen 8?, the legal limit for one day. Within the next few minutes, May oats had dropped their limit of 6?, May wheat its 10? limit. It was the first day of a break in commodity prices which stirred the market as nothing had in two whooping years. The New York Stock Exchange slumped...
...year, the price of grain had climbed almost steadily, until it looked as if it had no ceiling. But last week speculators wondered if a ceiling had not finally been reached. Though cash corn was up, both corn and wheat futures prices tumbled for the second week in a row. May corn futures were down as much as 19? from the high of the week before. May futures in wheat sold off as much...
...break? Government buying had slackened; the Government had almost all it needed for export under present goals. The winter wheat crop looked good, as deep snows had given it both protection and adequate moisture. And livestock feeders had begun to balk at paying $3 and up for corn, so more grain was going to market and less into hogs & cattle...
...Named as a speculator last week was former Treasury Secretary Henry Morgenthau Jr. Last summer, when the price of corn was swiftly rising, he was on the short side (i.e., betting that the price would go down). Said Morgenthau: "It is obvious I had no inside information...
...muleteer: "Those rations are all right if you've got to eat them, as we had to during a siege; but, don't misunderstand me, Miss, to tell you the truth, they are not our kind of food. Even my mule Nickola would not eat that corn...