Word: wheated
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Further expansion of trade must be approved by Congress, which is skeptical of deals with the Soviets after the disastrous experience of the 1972 wheat sale. Last week a bill was introduced in Congress that would require congressional approval of all loans over $50 million -relative chicken feed in international finance...
Wholesale prices received by farmers for some key products have dropped sharply since last winter (see chart); between February and May, wheat fell from $5.52 a bushel to $3.52, and corn from $2.76 to $2.45. Food processors and retailers have by no means passed the full decline along to consumers as yet. In fact, retail food prices overall rose .9% in May, but meat, poultry and egg prices went down...
Last week frustrated farmers were doing what they could to get prices moving up again. Farmers throughout the Midwest have been withholding their wheat from the market; they accused the Agriculture Department of depressing prices by issuing harvest forecasts that were too high. George Watts, a poultry industry spokesman, told the House Agriculture Committee that unprofitable prices had forced a large broiler producer to close its Tennessee plant, destroy 800,000 fertilized eggs and smother 300,000 newborn chicks. About 1,000 Western cattlemen threatened to withhold beef from market. The tactics were reminiscent of those that farmers used...
...Africa, drought continues for the sixth consecutive year, adding terribly to the toll of famine victims. During 1972 record rains in parts of the U.S., Pakistan and Japan caused some of the worst flooding in centuries. In Canada's wheat belt, a particularly chilly and rainy spring has delayed planting and may well bring a disappointingly small harvest. Rainy Britain, on the other hand, has suffered from uncharacteristic dry spells the past few springs. A series of unusually cold winters has gripped the American Far West, while New England and northern Europe have recently experienced the mildest winters within...
...moment, Latakia is the only port city of any size. But there are developing ports at Banias and Tartous. In the interior, the Orontes River, which flows perversely to the north while all the others in the Fertile Crescent flow south, waters a lush plain where the wheat fields are as endless as those in Kansas or Nebraska. This year Syria expects a bumper crop of two million tons. Farther to the west, along the Euphrates River, a giant dam will be finished this year. It will add another 1.6 million acres of arable farm land to the economy...