The Russia-Ukraine war has been pushing up commodity prices ever since rumors began about its onset. Moreover, supply chain issues have been disrupting food supplies globally, leading to elevated food prices. Also, the economic recovery after the pandemic has increased the spending capacity of consumers. Recently, corn and soybean prices increased to record highs and are currently trading around them. This is important because these two grains are key in the cash crop farming scene of the U.S. These catalysts are also boosting agriculture income, providing an incentive for farmers to ramp up their production.
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