Word: wheat
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Dates: during 1930-1939
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Tumbling grain prices on the Chicago Board of Trade, however, were another matter. When September wheat slid 26? in two days, President Roosevelt grew alarmed lest his whole farm relief program be endangered. If agricultural purchasing power, up 80% since March, was to be maintained, farm prices must be protected from wild speculative slumps. Secretary of Agriculture Wallace was summoned to the White House for a heart-to-heart. Board of Trade officials put their heads together in Chicago. Upshot was Government sanction of new rules which fixed minimum prices for grain (wheat, 90? per bu.; corn...
...rise did not bear out one of its pet theories on the New Deal market: ''Buy the worst stocks and make the most money." ¶ In Ohio last week eager purchasers were rushing out to the threshing floors, offering farmers $1 and $1.01 a bushel for wheat-the first time they have been offered $1 in three years. Threshing machine men upped their rental charges 25%. In the Chicago pit, wheat for May delivery touched $1.27¼ a bushel. But wheat was not the sensation of the pit. Rye outdid it. Rye (unfavored by Government restriction measures) touched...
...product which was on the minds of the President and his Secretary. A basic credo of the New Deal is that you can raise the price of raw materials a lot without raising much the cost of the products they go into. The 30? per bu. processing tax on wheat, just effective, was passed on in toto to bread consumers. In Chicago and downstate Illinois, a 1-lb. loaf rose from 5? to 6?. The 24 oz. loaf, price 10?, was reduced to 20 oz. New York City was hit in the breadbasket when a 1? and 2? increase...
Actual Progress made at the World Conference last week was solely in the realm of wheat. The "Big Four" wheat exporting countries (U. S., Canada, Argentina, Australia) had been held up for a fortnight while Australia's dapper, grey-spatted Resident Minister in London. Stanley Melbourne Bruce, badgered his Government by cable at 40? per word to join the others in some sort of wheat acreage reduction pact (TIME, July 3). Last week, after a conference of Australia's State Premiers. Dominion Premier Lyons ("The Man from Tasmania") had good news for Mr. Bruce. Next...
...concrete terms this was said to mean that the participating states would enforce a reduction of their wheat acreage by at least 15% for the next two years. They sought last week to obtain from France. Italy and other European wheat consuming states some lowering of their tariffs and embargoes against wheat. Informally Italian representatives at the Conference said that Premier Mussolini had given them "every assurance of full co-operation with the great wheat producing states." The French delegation raised the issue of wine. With repeal of the 18th Amendment in sight, the U. S.. they declared, could...