At first glance, the news from the Department of Agriculture looked good: in the past year, the Commodity Credit Corp. had cut in half (to $2 billion) its holdings of surplus grain, potatoes, eggs, etc., bought to support farm prices. Then Agriculture added the kicker. In unloading, CCC lost $290 million in the eleven months ending May 31. Sample sale: to Britain, 16.8 million Ibs. of dried eggs, bought at $1.03 a lb., sold at less than 26ยข.
...
To continue reading:
or
Log-In
