Word: corne
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...that the leading trading medium is October eggs, which were all laid in March, April and May?before the drought seriously affected production. There are 9,000,000 cases of eggs in storage which is only 500,000 cases less than a year ago. However, the advancing price of corn is almost sure to make the autumn and winter egg crop small,?a thought which has boosted October futures from 19¢ per doz. to 22¢ in the last few weeks...
...long ago John Speculator was talking hopefully of "dollar wheat." Last week wheat was $1.15 and the new watchword was "dollar corn." Rubber, which sold as low as 3¢ per lb. in 1933, was up last week to a four-year high of 17¢. Silk on Manhattan's Commodity Exchange had the busiest day in months. Cotton hit 14¢ per lb. for the first time since 1930. With few exceptions the raw "things" which the U. S. finds essential to its well-being were in high speculative favor. The number of citizens eager to swap dollars for salable goods...
...world's markets that Mr. Callander's Board had confirmed the worst fears for U. S. Agriculture. The wheat fields were not quite so bare as private observers had calculated (TIME, Aug 6). But cotton-land had shrunk below the gloomiest private guesses. And the misadventures of corn were a sensation. In a month, 500,000,000 bu. of corn had disappeared from U. S. fields and the 1934 harvest was officially estimated as 1,600,000,000 bu. as against 2,300,000,000 bu. last year. The price of corn jumped quickly to 88?...
...Corn into Meat. Most U. S. corn is fed to hogs, steers, chickens. Thus when corn soars so does pork, lard, eggs, beef. Fat corn-fed steers have risen in the past fortnight from a $8.50 per cwt. to $9.50. Top price for hogs last week was $5.60, best level in three years. Meanwhile, however, the stock yards have been overrun with gaunt, stumbling beasts which stricken farmers can no longer feed, and this is why the price of ordinary meat-on-the-hoof has gained little. Government purchases of relief cattle may run as high...
...Corn-into-Eggs. Butter and eggs have almost no zoological connection but their economic and social connection is close and traditional. The statistical position of butter has improved. There are only 800,000 tubs of butter in storage in leading markets as against 1,100,000 tubs year ago. At 27¼¢ per Ib. butter was up 1¢ for two weeks?and famed Speculator Jesse Livermore was thought to be in the butter tubs...