Food Inflation in 2022 and Farmers to Plant More Wheat-Corn-Soy
**The new year will see inflation rates that will continue to impact the food industry and cause prices to rise at grocery stores across the country.
Research firm IRI says food prices are estimated to rise 5% during the first half of 2022, but the level of increases will depend on each grocery store and its location.
Prices of produce like potatoes and celery are expected to increase because of higher freight costs.
**The Wall Street Journal says farmers plan to plant more corn, soybeans, and wheat than last year thanks to a banner year for grain prices, but they also face more uncertainty.
However, high fertilizer prices, forecasts for more weather challenges, and the threat of China slowing its demand for global commodities may put a damper on the anticipation.
Analysts and investors say geopolitics may bring more
volatility to prices next year.
**The Energy Information Administration says ethanol output rose slightly week-to-week while stockpiles declined.
Production of the biofuel increased to an average of 1.059 million barrels a day during the week ending on December 24, up from an average of 1.051 million barrels a day during the previous week.
Ethanol inventories during the week ending on December 24 fell to 20.76 million barrels, down from 20.705 million the week before, the lowest level in three weeks.