COMMODITIES: Speculator!

In the global scramble for strategic materials, Russia last week grabbed with both hands. In Singapore, the Soviets bought rubber by the shipload, sent prices bouncing up almost 6¢a pound in one day to 52.5¢ a pound. As a result, rubber also rocketed in New York—to 54.3¢ a pound, a 22-year record. New York's Commodity Exchange governors, fearing that the futures market was soaring out of control (a speculator who put up $800 to buy rubber futures in January could have had a $7,500 profit last week), ordered speculative futures margins doubled;...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!