Word: corns
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...kind of town where entrepreneurial skills appear to possess no symmetry, no balance. Commerce seems based forthrightly on everything the traffic will bear, all under one roof. One does not find, for instance, a record-and-tape store so much as one finds an establishment whose sign proffers: SWEET CORN, LOCAL GROWN. WE MAKE KEYS. Gasoline stations offer beer, shoes, crickets, night crawlers and, in season, onions. The onion accounts for $9 million worth of the local economy each year. The harvest ended last month...
...prompted farmers to remove from production 82.3 million acres of wheat, corn, sorghum, cotton, barley, oats and rice, amounting to 36% of all eligible crop land. The U.S. Department of Agriculture estimates that farmers planted only 60.1 million acres of one major crop, corn, down 27% from last year and the lowest level since 1878. Even with the acreage reductions, however, the nation's winter-wheat crop, planted last September and now in the midst of being harvested, is estimated at 1.94 billion bu., the third best crop ever and down only 8% from last year. Farmers...
...result, wheat stockpiles are actually expected to grow this year. For every other commodity, however, PIK appears to be succeeding in drawing down the enormous surpluses. The USDA predicts that the unsold carryover of feed grains, mostly corn, may dwindle from 3.4 billion bu. to 2 billion bu. by the end of the year, a reduction of about 40%. Rice stocks are expected to be cut by almost half, from 68.2 million cwt. (hundredweight) to 36.3 million cwt. "Without PIK, we would have had a market glut like we've never seen," says Agricultural Economist Barry Flinchbaugh of Kansas...
Prices have inched up since PIK was announced last winter, but not necessarily as a result of the program. Corn jumped from $2.36 in January to $3.15 this month, primarily because farmers held so much of their 1982 crop off the market that buyers had to bid up the price to get the available supplies. Cotton prices have risen nearly 10? per lb. this year, mostly because of bad weather. Eventually, however, reduced supply should strengthen prices and put more money in fanners' pockets. "The confidence level is better," says Tractor Dealer Bob Kennon of Tifton, Ga. "People...
...PHILIPPINES. As the southern island of Mindanao suffers through its worst drought in 50 years, 3 million farmers have lost some 60,000 tons of rice and corn, causing exportable rice stocks to plunge by 69%. Not even faraway Manila is immune: six major dams, the main source of the capital's water and electricity, may soon have to be closed down. As in other blighted areas, the physical wasteland has become a political minefield. President Marcos' wife Imelda perplexed compatriots in May by reportedly pressing the government into phasing out its $320 million U.S. food-assistance program...