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U.S. Crop Report Signals Worsening Global Food-Insecurity Crisis

  • USDA cuts outlook for soy reserves, flags dry weather concern
  • Tighter crop supplies could mean more global food inflation
    
Photographer: Patricia Monteiro/Bloomberg
Updated on

On the same day the World Food Programme was awarded the Nobel Peace Prize for its fight against hunger, fresh numbers from the U.S. government showed that tighter crop supplies could worsen the food-inequality crisis that’s sweeping the globe.

In its hotly watched monthly crop report, the U.S. Department of Agriculture on Friday said world soybean stockpiles will be smaller than expected, signaled growing competition over global wheat shipments and highlighted dry weather as a threat to crops in parts of South America and Europe.