COMMODITIES: Enough Is Enough

Chicago's Board of Trade, dazzled, baffled and bewitched by U.S. grain policies, finally said to hell with it. Last week the board's directors shut down trading in wheat and rye, curtailed trading in corn and barley, canceled $50 million worth of contracts. With the U.S. buying huge quantities of grain directly from farmers for shipment abroad, it was impossible to continue "a free and orderly market." Kansas City and Minneapolis exchanges promptly shut too.

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