Word: cropped
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Demand for Cotton. Exports are significantly responsible for the shortages that are forcing prices up. Some 6,000,000 bales of U.S. cotton, no less than 45% of this year's crop, will be sent abroad. The Japanese have bought about 1,800,000 bales, 2½ times their normal purchase. The U.S. Government no longer permits the Japanese to convert their huge hoard of dollars into gold, and so they are moving their money instead into such commodities as soybeans, wheat, shrimp-and cotton. In addition, China, hit by a bad crop, is buying unexpectedly large amounts...
...cotton crop was hurt, too, by flooding this spring. Worse yet, the Agriculture Department last winter anticipated surpluses rather than shortages, and it cut back the number of acres on which it pays its standard 150 a lb. subsidy. That move saved the taxpayers $100 million, but by reducing the cotton crop by 4%, it aggravated shortages and drove prices...
Gambril's work should pay huge dividends this winter. With everyone back from an 8-1 team that set Harvard records in 17 of 18 events, plus a third consecutive crop of outstanding freshmen, a clean sweep of those records is quite probable...
...make Middle South promise to pay farmers near the proposed plant for any crop damages the plant may cause...
...month later, USDA experts discovered the Soviet Union had purchased its full three-year $750 million grain allotment. The USSR had bought one-fourth of the 1972-73 wheat crop and large quantities of corn and soybeans, the nation's chief feed grains. The quantity of their purchase surprised USDA officials who had miscalculated Soviet needs...