Word: corne
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...Since corn is the staple hog diet, "corn on the hoof" (i.e., hogs) last week rose too. Headlines read: RETURN OF THE $12 HOG. As corn passed wheat, it became too dear to feed hogs, whose diet was thereupon switched to wheat, which is a better meat-builder, anyway...
Alarmed by the corn flurry, the Chicago Board of Trade Clearing House last week raised trading firms' margins from 3? to 4?; a bu., equalling the margins for wheat, oats and barley, and the Board of Trade required non-members to put up double the Clearing House margin requirements...
...corn was far above the world price. Promptly toward...
sailed part of Argentina's estimated exportable surplus of 246,000,000 bu. including Argentine corn that had already reached Rotterdam. At Buenos Aires corn cost only 54? Thus shippers could pay the 25?U. S. tariff and still have a 51? margin for shipping cost and profit. Last week some 20,000,000 bu. of Argentine corn were already bound for the U. S. Most of it will not reach Chicago before mid-September...
With the frightening approach of Argentine corn and the ''pessimistic" news that showers had wet down Illinois, Wisconsin, Minnesota, Indiana and Iowa, corn sold off at week's end, dropping below wheat again...