Word: wheated
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Almost every crop will be larger than last year. The Agriculture Department expects a record 1.6 billion bushel harvest of wheat, or 18% more than in 1970. An unmatched 1.2 billion bushels of soybeans is predicted. Since the threat of widespread blight never materialized, the corn yield is expected to weigh in at an unprecedented 5.3 billion bushels, up 28% from last year...
...unusually dry weather in July and August that deprived the fungus of life-giving moisture. The cornbelt states of Illinois, Nebraska and Iowa, which were badly plagued in 1970, escaped with only light damage this summer. "The weather was perfect," says Wyne Englehardt, who grows corn and wheat on a 4,000-acre farm near Oakley, Kans. Many farmers in Southern states where leaf disease broke out in 1970 planted blight-resistant seeds this year. Thus the spores could not accumulate and be blown North to infect fields there...
Concerned Traders. Small signs of annoyance are already evident in Japan, the world's biggest customer for American wheat and tobacco. In fiscal 1971, Japan spent $1.2 billion for U.S. farm products, up from $900 million in 1968. Last week, Japan bypassed the U.S. and bought wheat from Canada and Australia, a move that caused concern among traders in Chicago's market. Any large-scale retaliation by foreigners against U.S. farm goods would be painful. It would lead to lower farm incomes, and to make up for them, bigger Government crop subsidies-paid for by all U.S. taxpayers...
...spasm of bureaucratic anger, announced that Sweat would be billed for the cost of restoring "said site to its former condition"-meaning, presumably, the cost of re-depositing the garbage there. While that matter awaited a decision by Milwaukee's common council, the associates undertook other projects-planting wheat in another vacant South Side lot (a bill was sent to the Department of Agriculture for subsidy payments of $294), establishing an informal bus service for the aged, and inspecting slum housing...
Tokyo imposes import quotas and other restrictions on 80 items, including tobacco, rice, wheat, electronic components and computers. Almost anybody who tries to sell to Japan has to put up with a tortuous process of securing bank-issued licenses and coping with health restrictions (common American food additives are banned) and petty labeling requirements (all figures must be in the metric system). Even more vexing to U.S. businessmen are the straitjacket rules on foreign investment. For example, outsiders are still forbidden to own more than 50% of practically any Japanese firm. These barriers have held U.S. business investment in Japan...