COMMODITIES: High Jinks in Rye

Said one Chicago grain trader last week, "There's a lot of funny business going on in the rye market."

The Department of Agriculture thought it detected something funny, too. But it was not exactly sure what. So it was suspiciously eying every deal in the busy rye pit of the Chicago Board of Trade (see cut).

The flurry in rye trading began in the spring of 1943, when big General Foods Corp. accumulated 8,000,000 bu. of rye futures. General Foods hoped it could use rye as a substitute for scarce corn in one of its...

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