Word: grained
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Dates: during 1940-1949
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...areas of the U.S. where it had taken root, feverish armies of men & women talked of little else; they recruited friends and set out for pyramid parties nightly like grain plungers trying to corner the wheat market. Calls on some suburban Detroit exchanges rose...
Glut. Brannan could have found cogent reasons just by glancing at his department's statistics. There was more grain than the U.S. could eat, store or ship abroad. The Government had already taken a fourth of the bumper wheat crop off the market, by loans and purchases under its support plan. It expected to have to do the same with as much as 600 million bushels of corn-more than is normally sold commercially in a year. But with most storage space filled, a huge amount of "free grain" not encompassed by the support program had been thrown...
Brannan and his commodity experts apparently hoped that the supply of free grain would soon be exhausted, and that grain prices would then hold steady. But that was only a hope. The supply of free wheat alone on Jan. 1 was 514 million bushels-more than the U.S. normally eats in a year. Barring drought, the U.S. would probably have another bumper wheat crop, which could run the carryover to 600 million bushels in 1950. And Argentina and Australia already had so much wheat that they were cutting export prices...
...Government to take over-or build-more storage space. Secretary Brannan mulled the possibility of listing wheat officially as surplus. That would force EGA, which recently approved the purchase of 140 million bushels of Canadian wheat for Britain at lower than U.S. prices, to buy all its grains at home. EGA could ship more grain to Europe, since it could now buy more with the funds allotted. The Department of Agriculture lifted all restrictions on exports of edible fats and oils, hoping export demand would steady prices...
Stampede. There was also trouble in the cattle market. As grain prices dropped, cattlemen unloaded their stock. Kansas City's stockyard bulged with the biggest shipment of grain-fed cattle in its history-and beef prices tumbled. Choice grades of beef which had brought a top price of $41.60 a hundredweight last summer were offered for as low as $25, only $6.25 above OPA levels. Hogs slumped $1 to $20.50, lowest since October 1946. But at the start of this week, both livestock and grains firmed...