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There has been no revision announced yet in connection with 

 the ceiling prices of soybean oil, cottonseed oil and lard. However, 

 industrial users of vegetable oils are permitted to keep in stock only 

 enough oil to last them 90 days. In other words, they are not permitted 

 to go into the market and buy up extremely large supplies. Soybean 

 meal, however, has increased about a dollar a ton during the past week 

 which accounts for the two cents rise in cash prices for soybeans, and 

 a three-cent rise in the price of futures. For every dollar increase 

 in the price of meal, the value of the beans is increased approximately 

 two and one-half cents. The price of soybeans is in line with the 

 present value of oil and meal. Any further improvement in the price 

 of oil would tend to suggest higher prices for soybeans. Under date 

 of December 15, 19^1| "the American Soybean Association requested that 

 the price of soybean oil be adjusted so that it would be more nearly 

 in line with the price of cottonseed oil, based upon the relationships 

 that existed during the past three years. The. differential now is one 

 and one-half cents below cottonseed oil prices. The association is 

 suggesting a figure about three-fourths cent below cottonseed oil prices. 



The opinion of economists . Because of the tendency for 

 specialists to be unduly influenced by and to overemphasize some special 

 feature of the economic situation which he feels is being neglected, it 

 is quite worth while to use every opportunity to learn, either through 

 the printed or spoken word, the best Judgment of his colleagues. During 

 the past week, economists and agricultural economists from all over the 

 United States assembled in New York City, Major emphasis was placed 

 upon the effects of the war upon our economy and possible or probable 

 post-war developments. The general concensus of opinion is that the 

 war would last from two to five years, and that the national debt would 



