
Shrinking global food supplies helped push the United Nations Food & Agriculture Organization’s World Food Price Index to a record for a second month in January. As food becomes less available and more expensive, “hoarding becomes widespread,” Abdolreza Abbassian, a senior economist at FAO, said Feb. 9, predicting prices of wheat and other grains are more likely to rise than decline in the next six months.
Corn futures surged 90 percent in the past year, while wheat jumped 80 percent and soybeans advanced 49 percent as the worst drought in at least half a century in Russia, flooding in Australia, excessive rainfall in Canada, and drier conditions in parts of Europe slashed harvests….
Agronomist Larry Heatherly examines early maturing variety of soybean plants growing in a flood-irrigated field in Mississippi. Shot by Keith Weller at the US Department of Agriculture
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