When President Eisenhower last week decided to give Fidel Castro his lumps, he set off a flurry of excitement on the New York Coffee and Sugar Exchange, clearinghouse for much of the world's sugar. Just before Ike announced a slash of 700,000 tons in the amount of sugar that the U.S. would buy from Cuba during the rest of 1960, world sugar prices dropped 3 to 8 points, i.e., hundredths of a cent a pound, in expectation of the cut —and in fear that Cuba would dump its surplus sugar on the world market. Instead, Cuba raised its minimum...
To continue reading:
or
Log-In
