COMMODITIES: Reckless

On the floor of the Chicago Board of Irade one day last week, a trader idly remarked that he presumed the Government was temporarily out of the market as a buyer of cash wheat. In a few minutes, this bit of gossip was exaggerated into a "report" that the Government would stop buying for 60 days. Although the Government denied the rumor a few a hours later, December wheat dropped 8¢ a bushel from its peak of the day.

This was ludicrous proof of a new jumpiness in the nation's grain exchanges and their acute sensitivity to everything Washington did...

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