02-24-2018  3:54 am      •     
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NEWS BRIEFS

Breaking Bread Breaking Barriers, Feb. 26

Monthly dinner aims to build relationships between communities of color and police ...

Local Group Researches African American Ancestry

This Genealogical Forum of Oregon special interest group holds monthly meetings ...

Last Day to Apply for Affordable Housing is Feb. 22

Longtime and displaced residents of N/NE Portland receive preference for new housing, apply before midnight Thursday ...

NAACP Announces Key Partnerships

Voter mobilization for 2018 midterm elections takes precedence among issues uniting groups ...

Winter Donations Needed, Warming Centers Open Through Thursday

Locals encouraged to check on neighbors, winter gear needed ...

U.S. & WORLD NEWS

OPINION

Painting President Obama's Portrait Was Life-Changing

Artist Kehinde Wiley represented the president's life using color, composition and flowers ...

Raising Emotionally Competent Children

Lynnette Monroe on how her grandparents taught her to love herself ...

Black Dollars Matter: The Sales Impact of Black Consumers

Black consumers are spending jumi.2 trillion annually and are demanding that brands speak to them in ways that resonate...

Guest Opinion: Skipper Osborne’s Testimony on HB 4005

In testimony to legislature, Osborne says bill could decrease access to important therapies ...

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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