Word: wheats
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...right, gentlemen, let's start," shouts Treasury Secretary William Simon, the chairman, who still has a whiff of the Wall Street buccaneer about him. For the next 15 or 30 minutes they take the economic pulse all the way from the condition of the winter-wheat crop (better than expected) to the state of mind of Teamster Top Dog Frank Fitzsimmons (angry over NBC's scathing profile of him). Then, at least once a week, their findings, their moods, their urgings, are conveyed to the President...
What could upset the relatively pleasing picture? A weather disaster affecting this year's corn, wheat or soybean crops could do it, but the impact would not be noticeable on market shelves until 1977. Although many farmers from Iowa to Texas are worried about a drought, and there has been some damage to the winter wheat crop, grain prices have so far been only slightly affected. The outlook is for continued calm, with the main beneficiaries-in this election year-being the millions of middle-and lower-income families that spend more of their available cash on food than...
...maker in the Forest Service's reversal of its earlier decision was Jimmy Wilkins-who was assigned to Colorado from Atlanta after the transfer of two other Service officials and one ranger who had opposed Callaway's expansion bid. In addition, Robert Timm, a former Washington State wheat farmer and another friend of Callaway's from Republican circles, became chairman of the CAB at about the time the board began expediting requests by Crested Butte for scores of flights yearly...
Green Bugs. Colorado expects to lose 70% of its winter wheat crop, and parts of Oklahoma anticipate a two-thirds decline in this year's harvest. Other sections are also suffering. In parts of the once lush wheat-growing belt that extends from New Mexico and Texas into Kansas and Iowa, the wheat shoots are stunted. Many farmers are choosing to sacrifice their crops in an effort to save the topsoil. By plowing their fields to turn the silt beneath less fragile clods and by planting soil-gripping crops, the farmers hope to conserve their valuable topsoil that otherwise...
Despite the impending harvest failures, wheat prices so far have moved upward only slightly. A big crop in other parts of the U.S. could offset the expected losses. Nonetheless, many individual farmers stand to be wiped out by this year's losses. Says Minnesota Agricultural Expert John Wefald: "Some farmers are going to kiss rural America goodbye and good night...