Word: wheat
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Dates: during 1930-1939
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...Speech promised that at the Imperial Economic Conference to be held in Ottawa next summer "agreements will be concluded for closer empire trade which will strengthen still more the bonds of empire and bring to every part of it great and enduring prosperity." Canada's so-called "Wheat Pool" (similar in its aim to the U. S. Grain Corp.) will "take steps for the orderly marketing of the wheat crop of Western Canada"-as though anyone knew how to do that satisfactorily...
...Lady Mosley's uncle, Joseph Leiter of Chicago, still relates with gusto in the pages of Who's Who how in 1897 he cornered the wheat market for his father "to such an extent as to make him, at the beginning of 1898, the largest individual holder of wheat in the history of the grain trade...
Last week the Federal Farm Board announced its own long-awaited plan to sell wheat abroad. This plan resembled the Equalization Fee plan in all respects save one: instead of the farmer's sharing the Government's loss, the Government would suffer alone. The Board had bought 140.- 000,000 bu. of the farmer's surplus wheat. Now it was going to export 35,000,000 bu. of "choice milling quality'' stored along the Atlantic and Pacific sea-boards. Its purpose was "to clear the ports of facilities for taking care of the 1931 crop...
This Farm Board announcement caused a 2½ per bu. break in the Chicago wheat market. Many a grain trader assumed that the Board was starting to unload its huge wheat holdings...
When representatives to a European grain conference at Paris last week (which accomplished nothing) learned of the Farm Board's export plan, they raised an anxious cry: "Dumping!" Quick were they to point out that by putting 35,000,000 bu. on the already depressed European wheat market the U. S. would be doing the very thing about which it had complained most bitterly against Soviet Russia. Resentful of this foreign criticism, Farm Board Chairman Legge retorted: "Sheer bunk and Bolshevik! No comparison! Russian wheat was sold at prices far below world prices but wheat from...