Wheat, of all things, is no longer a surplus commodity in the U.S. Last week Franklin Roosevelt underlined this fact by suspending wheat-import quotas to allow Canadian and Australian wheat to come into the country in quantity.
Statistically the U.S. is not yet short of wheat. But the estimated carry-over by next July will be only 550,000,000 bu., less than a year's supply even in normal times; less than half the expected needs for the 1943-44 season. Moreover, most of the carry-over is Government-owned, and Congress refuses to let it be sold below parity prices (over $1.40 a bu.). Since...
To continue reading:
or
Log-In
