Phase 4 rules edge into economy as rates and wheat rise
New Phase 4 economic regulations tighten price controls amid stubborn inflation. Banks hike the prime rate to 9.25 percent, wheat futures clear $4 a bushel on the Chicago Board of Trade, and gas prices rise under new ceilings. The Nixon administration signals possible mandatory fuel allocations if voluntary steps fail.
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Federal Power Commission
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FPC
Grain Prices Reported in Mixed Trading
Wheat traded at 4.48 per unit while corn reached 2.65. Soybeans had no bid, and oats quoted at 1.16. The brief market note records active trading with uneven bids across grains.
Eggs price ranges in Kansas City market report
In Kansas City wholesale egg data the large eggs show 80 percent grade AA at 71 to 81 cents per dozen while medium eggs list 80 percent grade AA at 68 to 79 cents.
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Market slides with Dow dipping below 900
The Dow Jones average ended the week at 892.38, down 16.49 points from a week ago, its first close under 900 since July 17. The Associated Press average finished at 279.9, down 3.8 from the prior week as brokers cited worries over prime lending rates and rate changes hurting sentiment.
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