Scarcely three weeks after corn, wheat and soybeans plunged on news of the U.S. ban on sale of 17 million tons of grain to the Soviet Union, cash prices of all three crops largely returned to pre-embargo levels. The reasons for the rebound are many: the boom in gold and silver has led to a general surge in commodities; war scares have fanned fears of a reduction in available world grain supplies; a 1 million-ton export order has come in from Mexico; and there are rumors of higher demand from China. Most important, traders who oversold when the embargo was announced...
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