Grain output is growing as farmers chase high prices, according to US government figures, suggesting food inflation pressures may abate in the months to come.
Farmers would harvest 681.2m tonnes of wheat and record crops of 860.1m tonnes of corn and 461.4m tonnes of rice in the current year, the US Department of Agriculture said, as it raised output forecasts for each grain in its monthly report.
The brightening outlook comes after grain prices returned to levels last reached during the food crisis of 2007-8.