Word: grained
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...July agents acting for the Russians arranged for food deliveries through both European subsidiaries of U.S. grain dealers and European companies with offices in the U.S. The purchases were heavy and-under the letter of the U.S.-Soviet agreement-did not have to be reported to Washington. "Official" purchases are continuing at a modest rate...
During talks at the department only a few weeks ago, a Soviet grain team insisted that it had reported all the purchases it had to. Rasped an Agriculture official: "That was a technically accurate statement. But it also was a goddamn lie. They hornswoggled...
Actually, there were ample signs this summer of trouble in the Soviet harvest. In Chicago, grain traders heard reports of big Russian purchases eight weeks ago. And in mid-July the Russians were chartering grain-carrying ships. This was done secretly, through Soviet front companies in Paris; bills of lading were rewritten at sea from "Destination Rotterdam" to "Transshipment Rotterdam, Destination U.S.S.R." Not only was the Russian demand for ships an omen that the U.S.S.R. planned to buy more gram than would be necessary with a good harvest, but it lifted world freight rates by 15%,which should also have...
...major damage seems to have been done by the latest Soviet caper in the gram markets. This time the Kremlin does not stand to make as big a killing on its U.S. purchases, because they are not subsidized by the Government. The Russians will pay for their grain in cash at prices agreed to at the time of purchase. Yet their savings could be as much as $100 million-the difference between what they will actually pay and the higher price they would have paid had then" true needs been known...
...Grain belt farmers are pleased with the Russian purchases. Record harvests this year have already depressed prices to the lowest levels since 1972. The Soviet buys should eat into the surpluses and help lift farm incomes...