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...grain agreement comes when the Soviet Union is enjoying a rare good harvest. The Agriculture Department forecasts a healthy Soviet grain crop of 200 million tons this year, short of Moscow's hoped-for 239 million tons but still the best since 1978. That will reduce the Soviets' grain-import needs for the next twelve months to 30 million tons, from a peak of 46 million tons two years...
...third year of creating dazzling surprises, the MacArthur fund named 13 other academics and professionals in its latest crop of fellows, including Economist Alice Rivlin, who is resigning as director of the Congressional Budget Office, and two distinguished Columbia University scholars: Sociologist Robert Merton and Soviet Specialist Seweryn Bialer...
...newest crop of winners celebrated their good fortune last week, TIME sought out some of the 80 past fellows to learn how the prize money had changed their lives...
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...
Despite the prospect of moderately higher interest rates in the near future, economists are hopeful that the recovery will stay on course. "We have an economy that is bursting with energy," says Allen Sinai, a senior vice president of Data Resources, an economic forecasting firm. A new crop of 3 Government reports indicated last week that the strong upturn is continuing. U.S. industrial production rose 1.1% in June, the seventh monthly increase in a row, while June retail sales gained .7%. Says Walter Heller, chairman of the Council of Economic Advisers under Presidents Kennedy and Johnson: "A percentage point increase...