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USDA 2022 food price inflation forecasts already at 14-year high… more hikes likely ahead
Corn futures higher amid growing concern over slow planting, wheat climbs after crop ratings unexpectedly drop.
Corn and spring wheat futures extended Monday’s gains overnight amid planting delays concerns. Soybeans and winter wheat rebounded from Monday’s losses.
Soybeans down but off initial lows with support from new China business; corn erases losses to end higher, wheat mostly higher.
The sharp drop in HRW CCI rating was led by a 6.2-point deterioration in the Kansas crop and a nearly 3-point decline in Oklahoma.
