Business & Finance: $1.50 Wheat

In the days when farmers were demanding that wheat prices be pegged, not even the farm bloc would have ventured to set the official price at $1.50 a bushel. What the economic vagaries of the farm politicians did not dare, the forces of supply and demand have accomplished, and wheat futures touched that price recently in the open Chicago market.

This year, according to the Department of Agriculture, only five countries are expected to have important amounts of wheat for export: Canada, 200 to 180 million bushels; the U. S., 180 to 165 million...

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