Here is what’s behind the surge in global agricultural commodity prices

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The explanation for this phenomenon ranges from dryness in parts of South America in the past few months, which affected the crop that the region is currently harvesting, to other weather-related concerns in Europe and North America, where plantings for the new season of 2021/22 are at completion stages. But more fundamentally, the two critical issues adding upward pressure on global grains prices are the lower stocks and expectations of increased grain usage in the US renewable energy industry.