The Administration finally last week summoned its courage and imposed an approximate $1 ceiling on the nation's biggest single farm commoditycorn.
The action made sense even to the greedy Farm Bloc. For by holding corn around its present price, the Administration aimed also to maintain the current corn-hog ratio at a point which encourages turning corn into hogs instead of into cash.* Since 80% to 90% of the corn crop normally goes into hogs on the farm anyway, most farmers will not be penalized by the new ceiling because hog prices are pegged so high that corn-on-the-hoof sells at around...
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