Decline in steel production blamed on drought; with extent of crop damage still uncertain, industries dependent on farm purchasing [emphasis added] are curtailing steel buying. These include low cost autos, farm machinery, can companies. Structural steel remains strong. Some price declines seen in steel and iron products; steel down to lowest price since 1922.The first bit shows the importance of farming back in the 1930's. And steel was one of the basic industries then (coal and autos being others).
Synthetic nitrate producers reach agreement; German industry expects it's first step to forming cartel to bring production in line with consumption, but initial agreement considered unsatisfactory due to short duration and lack of commitments to reduce production.
The second supports my doubts over Prof. Pollan's (and others) narrative of the adoption of nitrogen fertilizer (post WWII war surplus nitrates from explosives).
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