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That would still be the smallest annual increase in overall food prices since they rose 0.9% in 2017.
Corn, soybeans and wheat continue to see corrective gains as soybeans are leading the way higher.
Corn, soybeans and wheat modestly extended recent corrective gains during the overnight session.
China to cut banks’ reserve requirement ratio 50 basis points from Feb. 5, inject 1 trillion yuan into market
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U.S. corn prices cheapest for exports | Vilsack on farm bill, biofuel issues | China update
Corn, soybeans and wheat pivoted near unchanged most of the overnight session though surged higher into the break.
Corn, soybeans and wheat are mildly favoring the upside this morning after trading narrowly on either side of unchanged overnight.
During the week ended Jan. 18, weekly corn and soybean inspections dropped 233,127 MT and 117,068 MT, respectively, while wheat inspections rose 72,112 MT from the previous week’s totals.