Word: grains
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Dates: during 1940-1949
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Caught Short. The poor harvest carried a few windfalls of good fortune. Last week, as feckless "shorts" ran to cover their bets in the grain markets, the price of wheat futures rose to the highest they had been in five months. At their peak of $2.06, December futures were 10? a bushel higher than a month ago. Millers and bakers, who had been taking their own good time about buying supplies, expecting to get bargain prices, decided to do their buying now-before prices got any higher...
Good Old Days. Cool breezes drifted gently across the golden grain of rice paddies that step up the lush green tropical mountains ringing Formosa's capital. Farther south, water, buffaloes dragged plows for peak-capped farmers turning soil for one of their three yearly rice crops. Nearby lay fields thick with sugar cane and vegetables. At night, electric lights -rare in rural Asia-twinkled from the modest huts of tiny villages. By day many villagers not needed in the fields worked in the small industrial plants that dot the island. Compared to mainland Chinese, the Formosans were well...
Rising Land. Mount Usu stayed quiet, but for six months the ground around it shook every day. A square-mile area of terraced grain fields to the east rose slowly until the land could no longer be cultivated. The villagers of Fukaba (pop. 153) came to Postmaster Mimatsu for advice. Since there had been no actual eruption, he assured them that the rising would stop soon...
Wrong Guess. The bears had made a bad guess. They had been banking on the fact that U.S. grain elevators were so clogged with surplus wheat from last year (TIME, June 6) that farmers would not be able to store the bumper crop now being harvested-and thus get no Government support loans on it. Dumped on the market, the grain would drive prices lower...
...anything in time to be of much help. The House had passed a conference bill which would let the CCC build more storage facilities, but last week the Senate turned it down, ostensibly on a technicality. (Oklahoma's Elmer Thomas charged it was torpedoed by private grain storage interests...