Analyst's note: Forecasts are projecting tough, maybe even dramatic times ahead due to projected shortfalls in the U.S. agricultural markets. Those who watch these markets are expecting food prices in U.S. to rise as well. Read the original article for additional details. Russia has already banned grain exports.
"[....] The agriculture department on Tuesday cut estimates of US corn yields for a third successive month, forecast record soyabean exports to China and warned of the slimmest cotton stocks since 1925.
“The combined production shortfalls and dramatic potential stock drawdowns mean a much tighter supply picture than just a few months ago,” the agency said in a separate grains report.
[....] The price rises have revived fears of a repeat of the global food crisis of 2007-08.
