Word: corne
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...world's third largest corn refinery closed down last week for lack of corn...
...corn refinery which shut its doors is in Clinton, la., in the heart of the U.S. corn belt, where bins and elevators bulge with last year's crop...
...other refineries had shut down within the week: the Pekin, Ill. plant of Corn Products Refining Co. (world's second largest) and the American Maize Products factory at Roby, Ind. These shutdowns were serious business: corn products are a staple of war (munitions, alcohol), as well as in civilian life. The refineries closed because, in effect, the U.S. corn growers were on strike: they didn't want to sell their corn at the $1.07 ceiling price, when they could make a better profit feeding the corn to hogs (or selling it to hog growers via the black market...
Root of the corn-pig crisis is the price ceiling on corn ($1 a bushel) and the price floor on hogs ($13.75 a 100 lb.). By feeding the corn to the hogs, farmers figure they can get the equivalent of $1.35 a bushel for their corn. Last week corn bootleggers roamed the Midwest, buying up corn at above-ceiling prices to sell to hog raisers...
...Administration, with its fixed price ceilings and floors, had got itself into a jam. One proposal: requisitioning the corn now in elevators, at ceiling prices, and throwing it into the market. On this, Food Czar Chester Davis, conferring daily with corn growers, feeders and processors...