Word: grainmen
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...estimates, the chief yardstick used by farmers and grainmen to gauge future commodity prices, were received with some skepticism. There have been too many mistakes before in the department's arithmetic. The real skeptics were the cotton farmers. Last year the board's estimate of their crop was more than 2 million bales too high. Result: U.S. cotton farmers sold their crops in a falling market, according to Congressional investigators lost $125 million by selling before the short crop came in and prices rose...
...follows this metaphysical reasoning to the bitter end, the Farm Bloc will try to smash the new ceiling to bits. Best augury for its enforcement is the fact that the Farm Bloc is to some degree split: livestock producers perhaps can be played off against grainmen. On the rule of divide and conquer, the Administration...
Last week the business conduct committee of the Chicago Board of Trade sent a questionnaire to brokers, asking for lists of all open accounts in rye of over 100,000 bu. Reason: suspicion of an attempted corner in rye. Grainmen scouted the idea of even a technical corner, but none of them denied that a major operation in the rye market had by last week boosted the price of that grain from 48? to over...
...reported to have bought and taken delivery in May on 4,000,000 bu. of rye, now stored in warehouses-about half of the visible supply in the U. S. If he tries to get a corner grainmen prophesy that he will take a beating; conversely, talk of a corner may contribute to his profits. Last week he maintained his usual canny silence, for the time being in Florida which possesses not only good telephone connections with Chicago but also real estate well suited to his talents...
...Board of Trade. Last week, buying a seat on the Winnipeg exchange for $12,600, he repeated this charge, also protested that the Board of Trade has many rules hurting buyers. Winnipeg, said he, "is the only free market on the continent." Elated, Winnipeg traders hoped other big grainmen would follow Bull Cutten. They arranged a demonstration for his arrival. Members of the Chicago Board of Trade last week gloomily observed that their seats now sell at $9,000 against a high of $62,000 in 1929; that the securities division averages only 6,600 shares a day, that corn...