Commodities: Betting on the Future

Last week's record-breaking sale of Canadian wheat to the Russians (see THE WORLD) stimulated more than the Canadian economy; it rang like a mating call for those iron-stomached speculators who go after big profits, and risk even bigger losses, by trading in commodity futures. The speculators rushed in to buy wheat futures, gambling that the Soviet crop failure would mean a larger market for U.S. wheat. They sent prices up as much as 13½¢ on the Chicago Board of Trade, and the lucky ones were able to make a 130% profit on their investment in just five days.

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