Extreme heat, El Niño, and disruptions in the Strait of Hormuz, Red Sea, Black Sea and Panama Canal are reducing crop forecasts and pushing up commodity prices, especially wheat, rice and soybeans, with food-price transmission to consumers likely from October to December.
Extreme heat, El Niño, and disruptions in the Strait of Hormuz, Red Sea, Black Sea and Panama Canal are reducing crop forecasts and pushing up commodity prices, especially wheat, rice and soybeans, with food-price transmission to consumers likely from October to December.