Word: wheats
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Dates: during 1920-1929
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Other nations supplied about 40 million bushels in addition, making an annual importation of about 600 million bushels of wheat into Western Europe...
...story of the surplus and its disposal commences in the days before the War. Export (in millions of bushels) of the chief wheat-selling countries was at that time approximately as follows...
There is too much wheat. Canada, especially, has quadrupled her production. Meanwhile, owing to an unusually good wheat crop and a consumption still depressed by the War, Western Europe may consume only 500 million bushels...
...Reduction of the wheat acreage (favored by Secretary Wallace). This is being brought about naturally by farmers who abandon their land on account of low prices. It may be brought about deliberately by diversification of crops and greater plantings of flax and sugar-beets?products which we now import. But, if it is necessary to increase the tariff on sugar to foster beet culture, there will be strong political opposition...
...Purchase by the Government of wheat at $1.75 a bushel, or similar price, in order to sustain the market. This is advocated by some " radicals" of the wheat belt, but opposed by Secretary Wallace because it would tend to increase wheat production, thereby augmenting the existing evil of oversupply. Eventually the Government would have to dump the wheat back on the market or into...