'croprevenueslook to be much improved with record crops and generallyhigherpricesthanweanticipatedearlier this year,' saidJosephGlauber, the USDA's chiefeconomist.
JosephGlauber, chief economist at America's Department of Agriculture, reckons that restraints on the export of wheat may have added as much as 20% to wholesale prices though not as much at the retail level.
At the event, USDA chief economist JosephGlauber warned of record farm prices for corn, wheat, and soyabeans for 2011, and resulting US food inflation of at least 4% this year and next as prices work their way through the supply chain.