Business & Finance: Lean Year

Not since the dust storms blew across Kansas in 1936 have winter wheat prospects looked so bad. In some Kansas counties last week, 80% of the 1951 crops had been abandoned because of drought, sub-zero winter temperatures and insects. Across the rest of the U.S. wheat belt, prospects were almost as poor: one expert predicted a 624,970,000-bushel crop, 21% less than the ten-year average, and 18% less than last year. Because of the estimated big carryover of 425 million bushels as of July 1, there will be plenty of wheat this year for...