Word: wheat
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Dates: during 1930-1939
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Last week AAA reported it had spent $67,600,000 to reduce the U. S. wheat crop for 1934. At the same time the Department of Agriculture gave out its May estimate for the winter wheat crop:- 461,000,000 bu., which was 31,000,000 bu. less than the April estimate and 171,000,-ooo bu. less than the five-year average. There was little connection between the expenditure and the shrinkage, for a crop reduction agent more potent than AAA was at work. From Saskatchewan to Texas, from Montana to Ohio hardly any rain had fallen...
...Winter wheat, planted the autumn before from Texas through Kansas, accounts for about two-thirds of the U. S. crop. Spring wheat planted after the first thaw in Montana and the Dakotas, accounts lor the other third...
...last week the delegates of 21 nations at the World Wheat Conference in London had talked themselves dry. Most of them wanted arbitrarily to boost the export price of wheat 10%. Leaders of this faction were three great wheat-sellers: Canada, Australia and the U. S. Drought in those lands had reduced the wheat crop, already boosted the price. Last August's Conference had given them such adequate export quotas for the current year (Canada: 200,000,000 bu.; Australia: 105,000,000; the U. S.: 47,000,000) that they were willing to give up part of them...
...hopelessly split the delegates. And Britain's Sir Herbert Robson, head of the London Grain Exchange, split them further by growling: "I view with deep concern the increasing interference of governments with international trade. . . . The delegates are very charming diplomats, but very few of them know anything about wheat." Finally last week Argentina's Delegate Tomas A. Le Breton broke up the meeting by handing in Argentina's flat refusal to join in a minimum price agreement. That produced the climax all members had long been expecting. A subcommittee was named to inter the remains...
Over the corpse floated straightway last week a threat from U. S. Secretary of Agriculture Wallace. Speaking before the University of Georgia's Institute of Public Affairs, he proposed to open U. S. granaries' shoots and flood the world with cheap wheat, unless Argentina agrees to bargain. "The U. S." said he, "can meet with its surplus wheat any kind of competition that might be established by other nations and at the same time aid the co-operative growers to get comparative prices for the portion of the crop domestically consumed...