COMMODITIES: Pocket Full of Rye

In the wartime rye market—the one grain on which there were no ceilings—the sky was the limit on the wild speculation. Last week a Department of Agriculture referee, in preliminary findings, told just how wild it was: he found General Foods Corp., Daniel F. Rice and Co., and four members of the Chicago Board of Trade guilty of trying to corner the rye market.

General Foods, said the referee, first went into the rye market in December 1942 (General Foods' reason: to hedge against losses in wheat and corn). General Foods' Executive Vice President Charles W. Metcalf bought so heavily...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!