Word: wheatly
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Dates: during 1950-1959
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Under the 1957 soil-bank law, any farmer who had 100 acres planted in wheat could put 25 acres into the soil bank and collect a payment for letting his land lie fallow, thus reducing the price-supported wheat crop. The law specifically prohibited him from planting those same acres with sorghum, also on the price-support list, in order to collect double payments. But the law said nothing about plowing up additional land not then under cultivation, and planting it with sorghum to make up the lost wheat acreage...
This is exactly what shrewd wheat farmers from Kansas to California did. Everyone joined the soil bank-and everyone piled on the sorghum. For the first time, the sorghum crop in Kansas was bigger than wheat-by 20 million bu. Result: with sorghum selling at $1.57 per cwt. on the free market and Government price supports at $1.83 per cwt., the U.S. will have to buy around 40% of the record crop at a cost of some $183 million in price supports. Then it will have to store the sorghum (if it can find space in wheat-filled granaries...
...Gross national product for 1956 was more than $7.5 billion, up 12% from the previous record year. Production of most foodstuffs was up, with bumper crops of wheat, sugar and beans. Livestock production climbed 11% in 1956; fish nets bulged 48% fatter...
...strikes reflect the tensions and distortions of Uruguay's economy. On rolling land that could provide some of the lushest cattle and sheep pasturage in the world, wheat is being grown, encouraged by government price supports despite the world wheat glut. Ranchers, penalized by taxes and government cheap-meat policies, are producing less beef and wool-the country's mainstay exports. So serious are the shortages that 4,000 packinghouse employees have been laid off and the government has even been forced at times to import cattle, both for local consumption and for export as corned beef. Moreover...
...army sabotaged the I.P.C. pipeline at the time of the Suez invasion, oil is flowing through it at only 40% of its pre-Suez rate.) For all her chronic political chaos, Syria has made notable economic progress since World War II. Irrigation schemes, mostly private, have more than doubled wheat production since 1938, and the cotton crop, Syria's main export, has tripled since...