Word: soybeans
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...reason the Government has had to buy so much is that cottonseed prices have not been competitive with other vegetable oils such as soybean, peanut and flaxseed. Soybean oil, at 11? a Ib. v. 15? for cottonseed oil, has captured most of the market for margarine, salad dressings and shortening. While lower cottonseed prices might slow down soybean sales, the Agriculture Department hopes that demand for both will pick up. Some bullish factors: 1) the prospect of marketing quotas on the 1954 cotton crop...
...forecasts of lower soybean production next year. If prices hold up well enough, the Government might even dispose of some of its cottonseed, which is enough to supply the U.S. with margarine for more than a year...
...much as three points. This week the drop continued; in one day the Dow-Jones industnal index fell 5.93 points to 274.10. The heaviest selling began in commodities, not only on US. markets, but on Europe's bourses In the U.S., futures contracts in wool, rubber, sugar, soybean oil and grains went tumbling. In one day, the Dow-Jones index of commodity futures fell 2.69 points, biggest drop in two years...
Modern margarine is made from refined vegetable oils (principally soybean and cottonseed oils) grown on American farms, plus cultured skim milk and minor ingredients...
...McCarthy forwarded funds from his anti-Communism contribution account to a friend, who bought 30,000 bushels of soybean futures and realized a profit of $17,354.50 in less than three months. The subcommittee's questions: Were not the fight-Communism contributions trust funds? Did McCarthy have confidential information on the soybean-future market, which was then being investigated by the Department of Agriculture...