Top Prices

The U.S. farmer was being rescued again by the War Food Administration. Fresh from its six-month egg-buying spree which supported egg prices--much to the housewife's disgust--WFA started buying wheat last week. Under the pressure of forecasts of a billion bushel crop, wheat prices had sagged to a 1944 low. But a thumping two million bushel order placed in Kansas City and Minneapolis by WFA snapped prices up four cents a bushel.

Grain traders, without knowing how much wheat WFA will purchase, could be sure of two points: 1) that WFA would buy just as much wheat as necessary to hold prices firm, 2) that the Government agency, either through direct buying or commodity loans to farmers, has the market so rigged that the traditional function of futures trading will be pointless.

This file is automatically generated by a robot program, so reader's discretion is required.