Commodities: Action in the Pits

While the stock market has been drifting sidewise, another exchange has been moving at a furious pace. At Chicago's Board of Trade, biggest and busiest commodity market in the world, pit brokers have perspired through two weeks of record business. On one day, they traded an alltime-high 270 million bushels of wheat, corn, oats, rye and soybeans—an amount almost three times greater than last year's average. Twice the market's opening had to be delayed an hour in order to catch up on paper work, something that had never happened before in the board's 118-year history.

Commodities trading is more intricate...

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