Word: bu
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Usually stoic John Harvard blushed scarlet over a "B.U."-lettered waistcoat as seven car-loads of Terrier students touched off kerosene poured in the symbol "BU" and stretching from the 50 yard line southward to the 35. Firemen and Yard police armed with guns arrived to find seared, black turf facing their hoses...
...their daily legal limit; wheat fell 6 to 8¾?. Even wholesale meat prices slipped, along with livestock prices. One thing that had finally frightened the speculator into panicky selling was a decision by the Federal Government to cut purchases of grains for November export by some 50 million bu., 42% below the July-October level. And traders who had expected frost to nip the short corn crop, were upset by the Department of Agriculture's announcement that half the corn crop had matured and was safe from the frost...
...Surplus? Then Secretary of Agriculture Clinton Anderson dug up some figures as a warning for speculators. The U.S., said he, will have a 250 million-bu. wheat surplus next spring, even after its huge exports. (His own Bureau of Agricultural Economics was less optimistic, gave the surplus as 164 million bu...
...size of the wheat crop were widely known," said Anderson, "the bottom would drop out of the speculative market." The bottom did just that in the next two days. By week's end corn was down 27? a bu. to $2.38, wheat 23? to $2.57. It had been the biggest week's drop since Nov. 16 of last year. Said Anderson: "Long overdue. I hope the drop will continue...
...hedged by many "ifs." Much depended on whether the rest of the corn crop could be harvested before the frosts. Much also depended on whether President Truman would follow Clint Anderson's proposal this week to cut the year's grain exports by a whopping 100 million bu...