AGRICULTURE: As High As an Elephant's Eye*

Traders in corn, the prime feed for U.S. livestock, had expected a good crop—but nothing like the bumper yield forecast in the Department of Agriculture's first official estimate. Conditions as of July 1 indicated a 1948 corn harvest of 3,328,862,000 bushels, 39% over last year's dried-out crop and 2% more than 1946's record.

The Department also boosted the wheat harvest forecast 4% to 1,241,751,000 bushels, second biggest in history. Kansas City wheat men and railroaders scarcely needed to be told. One day last week 4,578 cars of wheat rolled in for unloading, 1,000 more than on the previous record day (in...

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