Wheat Deal. Under pressure of the second largest wheat crop on record, the U.S. ratified the international wheat agreement (TIME, April 4), which gives U.S. farmers an annual export market of 168 million bushels for four years. The wheat pact, which will cost taxpayers an estimated $84 million in subsidies to farmers for the first year's exports (because export prices will be lower than domestic support prices), goes into effect July 1.
Good Guinness. Because currency restrictions make U.S. hops hard to get, Arthur Guinness Son & Co., Ltd., famed Irish brewers...
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