As the gong closed May trading in U. S. grain pits last week the Federal Farm Board, as it had promised to do, ceased stabilizing wheat prices. Board officials declined to reveal precisely how much wheat the U. S. had bought in the open market or how many U. S. dollars had been lost in price-pegging operations. Grain experts estimated, however, that the Board owned more than 200,000.000 bu. (exclusive of the 35.000.000 bu. sold abroad this spring) with a book loss of $90,000.000. Still undetermined was what the Board would do with...
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