Did J.Powell speak too much on tolerating inflation yesterday – 24 February? Food price inflation is going to skyrocket in February looking at CPO Futures, soybean oil on CBOT, canola on ICE Futures and, sunflower oil on FOB Ukraine basis exacerbated by supply tightness. Sunflower oil hit US$1455/ton on FOB Ukraine basis at market close yesterday – 24 February.
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