04-20-2018  11:29 am      •     
The Skanner Report
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NEWS BRIEFS

Think & Drink with Rinku Sen and Mary Li

Event takes place Wednesday, May 16, at Alberta Rose Theater ...

April 24 is Voter Registration Deadline for May 15 Primary Election

Tuesday, April 24, is voter registration and party choice deadline for May 15 Primary Election ...

Portland Libraries Celebrate National Poetry Month

April poetry events and recommended reading from Multnomah County libraries ...

PCRI Launches the Pathway 1000 Implementation Plan

Pathway 1000 a bold and ambitious 10-year displacement mitigation initiative ...

AG Rosenblum Launches New Resource on Oregon’s New Gun Safety Laws

One-page handout aims to educate Oregonians about the new law ...

U.S. & WORLD NEWS

OPINION

Will HUD Secretary Ben Carson Enforce the Fair Housing Act?

Julianne Malveaux questions HUD Secretary Ben Carson’s ability to enforce the Fair Housing Act ...

Waiting While Black in Philadelphia Can Get You Arrested

Reggie Shuford on the daily indignities African-Americans face in Philadelphia and around the country ...

Black People Must Vote or Reap the Consequences

Jeffrey Boney on the importance of voting in the Black community ...

Civil Rights Community Doesn’t Need to Look Farr for Racism in Trump Court Nominees

Derrick Johnson, NAACP President and CEO, explains organization's opposition to Trump's nomination of Thomas Farr ...

AFRICAN AMERICANS IN THE NEWS

ENTERTAINMENT

Christopher Leonard AP Agribusiness Writer

ST. LOUIS (AP) -- The U.S. government barely changed its estimate for next year's corn surplus, which is expected to stay small and keep high food prices high.

The Department of Agriculture estimated Friday that farmers will have 848 million bushels of corn on hand at the end of next summer. That's up less than 1 percent from last month's forecast.

Next year's surplus would satisfy demand for fewer than 25 days. A 30-day supply is considered healthy.

Higher corn prices have pushed overall food inflation up this year. Corn is an ingredient in everything from animal feed to cereal to soft drinks. The USDA expects food prices to have increased 4.5 percent in 2011. They estimate prices will rise as much as 3.5 percent next year.

Fears of a corn shortage pushed the price to a record high of $7.99 a bushel in June. Corn prices have eased slightly since then to around $6 per bushel.

Corn traded for about $2 a bushel for several years until 2005. Government mandates and subsidies that year helped the ethanol businesses expand.

The surplus is at historically low levels because of increased demand from ethanol makers and also from livestock producers.

Separately, the USDA said it expected the soybean surplus to be about 18 percent bigger in 2012 than it thought last month. Farmers are expected to have 230 million bushels on hand. That's about a 28 day supply. While not abundant, most traders don't consider that level a shortage, said Jason Ward, an analyst with analyst with Northstar Commodity in Minneapolis.

Soybeans traded for more than $14 a bushel this summer, but now trade around $11.30 a bushel.

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