Word: soybeanization
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...cause of all this excitement was the simple soybean, the hottest item in the seething U.S. commodities market. Last week futures for soybeans, soybean oil and soybean meal set seasonal records after a month of wild trading. A cool speculator who decided to hold on to his contracts for the month could have tripled his money. In trading last week price changes twice reached the permissible daily limit of 10? per bu., and to take the heat out of the market the Board of Trade has doubled in stages the margin required of a trader...
...Gold. Introduced to the U.S. from Asia in 1804, the soybean did not become a significant agricultural product until World War II cut off normal U.S. imports of fats and oil. From a crop of 193 million bu. in 1945, output rose to 843.7 million bu., worth nearly $2.5 billion last fall. Soybeans are the U.S.'s most valuable agricultural export, ranking ahead of wheat and corn...
...news, fall in a matter of minutes on bad news, and gyrate with changes in weather forecasts. Last week's action was generated largely by reports of reduced grain surpluses and the Soviet purchase of Canadian wheat. Two weeks ago, Vice President Humphrey caused a 3% jump in soybean futures by revealing in a speech to farm editors that the soybean surplus this fall will be only 32 million bushels, or a two-week reserve, rather than the 48 million bushels that the Government had previously estimated. Soon after, July soybean contracts dropped 11½% as a result...
...Colombia. Quaker Oats is promoting a powdered cereal that contains cottonseed flour, corn meal, sorghum and yeast to add body-strengthening vitamins and protein to diets in which their lack dwarfs and weakens millions of children each year. Minneapolis-based Archer-Daniels-Midland is shipping a protein-enriched powdered-soybean beverage to countries as far off as Korea. Corn Products Co. is working on hybrid seeds to improve corn yields in South America, recently brought out an enriched version of a familiar Brazilian baby food called Maizena. Says Executive Vice President Beverly Warner: "Unless you take 30 years to educate...
...Capitol Hill, he promoted bills on every subject from water pollution to soybean research. "I like all subjects," he said. "I can't help it. It's glands." Though few got anywhere at first, many of Humphrey's proposals later became law, usually under other men's names. Besides urging a medicare program he fought for federal aid to education, proposed the Peace Corps four years before the Kennedy Administration embraced the idea, and recommended a youth conservation corps along the lines of the poverty program's Job Corps. Humphrey's successful appeals...