Word: wheated
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Almost everywhere farmers reveled in the record high prices for their harvests. In Ramsey County in the heart of North Dakota's wheat country, people told the tale of the farmer on the verge of selling his durum wheat for $7.20 per bu. (compared with $1.35 last year) who slipped out to the toilet. By the time he returned, the price had jumped 600. In Maine, clam diggers pocketed $18 per bu. for clams that brought $10 per bu. last year. Tuna harpooners sold their catches for 650 per lb., compared with 150 last year. The food producer...
...Welsh ancestors had come to America in 1633. In the 1890s, Post moved with his wife and only child to Battle Creek, Mich., in hopes of improving his health. When the change failed to help, Post came up with a cure of his own. After concocting a combination of wheat, molasses and bran as a healthful coffee substitute, Postpatented his recipe, dubbed the mixture Postum, and launched one of the first advertising campaigns for a prepared food. One ad exhorted: "Is your yellow streak the coffee habit? Does it reduce your working force, kill your energy, push you into...
...greatest suspicion, outwit the simple-hearted Americans at every turn. The myth has turned out to be true-in a most embarrassing way. Last year the Soviet Union, needing grain because of serious crop failures, sent a delegation to hole up in a New York hotel to buy wheat-440 million bushels of it. The U.S., long plagued by grain surpluses, obligingly held the export price of wheat at $1.63 per bu. by subsidizing farmers and grain dealers to the tune of nearly $300 million. It even provided the U.S.S.R. with $750 million in credit to make the deal possible...
...take the frenzy out of demand. The huge size of the American crop is allaying fears of foreign buyers, who are now likely to scale down immediate orders in the belief that supplies probably will be available later. Other nations are increasing their harvests this year. Canada's wheat crop, for instance, should weigh in at close to a record. Soviet grain output is falling short of targets, but nowhere near as disastrously...
...farmer has little reason to doubt that over the long run, the world market will absorb as much as he can grow. The Department of Agriculture estimates that the- tonnage of U.S. crop exports will climb about 60% by 1985. To begin with, world reserve stocks of wheat and some other grains have been dangerously depleted by recent crop disasters, and will have to be rebuilt...