COMMODITIES: Freedom at Work

The U.S. last week got a prime—and lately rare—example of how a free market can work to the benefit of consumers. The Administration, which has been talking of curbing such freedom, also benefited; it found that there may be more grain available than it had counted on.

It started when the Government decided on this year's quota of grain for export: 570 million bushels, 100 million more than it could readily get. As the Government bought on the open market, prices rose. Many livestock raisers, rather than pay such high prices for feed, sent their animals to market and cashed...

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