Word: wheated
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...year. Facing the prospect of a 10% to 20% drop in grain production, Moscow has clamped a news blackout on the subject. And apart from a routine one-line announcement of a new trade agreement, there was not one word about the huge $500 million pur chase of Canadian wheat and flour that the Kremlin hopes will make up much of the deficit...
...Objections. The Kremlin's spending spree on wheat, which promised to give an exhilarating boost to the lagging Canadian economy, would have its impact elsewhere as well. Word came from Australia that it would sell Russia another $100 million worth. Moscow was dickering with West Germany for 250,000 tons of flour. Even U.S. wheat growers, stuck with a huge surplus, hoped to get in on the bonanza; the State Department in Washington apparently had no objections...
Last week's record-breaking sale of Canadian wheat to the Russians (see THE WORLD) stimulated more than the Canadian economy; it rang like a mating call for those iron-stomached speculators who go after big profits, and risk even bigger losses, by trading in commodity futures. The speculators rushed in to buy wheat futures, gambling that the Soviet crop failure would mean a larger market for U.S. wheat. They sent prices up as much as 13½? on the Chicago Board of Trade, and the lucky ones were able to make a 130% profit on their investment...
...selling in a given month in the future. Experts study the weather, the size of plantings, inventories, probable demand and world political whims to make their judgments. For actual users of a commodity, the guess about the future is a practical way of stabilizing costs and protecting profits. If wheat gets scarcer and thus more expensive, the flour miller will make a profit on his futures contract-which is based on the price of wheat today-but the profit will be balanced by the fact that he will also have to pay more in the cash market for the wheat...
...exciting in mathematics, something which concentrators have to wait years for. A full-year course, Bio. 100, systematizes departmental offerings in evolution. Ec. 133, on the economy of Soviet Russia, gives a foundation for deciding whether we are ahead of or behind the Russians when it comes to wheat surpluses...