Word: wheated
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...from their homes armed with empty pots and ladles. For 15 minutes they set up a metallic din that can be heard for blocks around-their way of protesting steadily worsening food shortages. Some mornings, people gather outside the Bernardo O'Higgins Military School and pelt cadets with wheat and rice, amid shouts of "Gallinas, gallinas!" (chickens, chickens), a gibe at the army's staunch refusal to oust President Salvador Allende Gossens...
...buying, storing, shipping and selling grain has remained as obscure as it is enormous. Recently, half a dozen major grain-trading companies have been bobbing up in the news with unusual frequency because of their role as middlemen in the Soviet Union's billion-dollar purchase of U.S. wheat and other crops. The sale has also raised charges from Democrats that some Nixon Administration officials unfairly tipped the big grain companies to the impending deal, enabling them to buy wheat relatively cheap from unknowing farmers before news of the scope of the Russian deal drove up prices...
...with whom the Soviets wheeled and dealed were officers of the large grain-trading firms that are the main conduits for moving wheat, corn, soybeans and some other commodities from farm to market. The dealers buy from farmers and sell to customers as diverse as small millers, big feed-lot operators, overseas companies and foreign governments. Dealers can provide many services, from cleaning and storing to transporting the grain. They get most of their income from the fees they charge for those services. The dealers frequently operate on slender after-tax profit margins-about .5% of sales -but their often...
...farm income has risen a healthy 8% this year. "Never in my life have I seen a situation like this," marveled a key Midwestern farm leader. "All across the board the prices we are getting for our crops are high. We see profits in hogs, corn, cattle, soybeans and wheat...
...sure, some wheat farmers are up in arms over the huge profits in the Soviet grain sale that went to big grain exporting firms rather than to them (see THE NATION). But the fact remains that President Nixon went out of his way to become the nation's No. 1 wheat salesman during his trips abroad. "The Soviet grain deal was good for the farmers," says Don Paarlberg, the Agriculture Department's economic director. "It increased prices, reduced stocks and made possible an increased opportunity to grow wheat...