Business & Finance: Corn Corner

Not since Thomas Montgomery Howell tried unsuccessfully to corner corn six years ago has the Chicago grain market witnessed such a knockdown battle as took place last week. Though the nation's corn bins will soon overflow with the biggest corn crop since 1932, corn supplies last week were very low because last year's carryover was the smallest of this century. With deliveries of September corn futures due on Sept. 30, longs had the best opportunity in many a harvest moon to soak shorts.

With corn prices up 21¢ in 15 days to $1.1 6 a bu. it became apparent that shorts could...

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