WASHINGTON - U.S. import prices fell in March as rising petroleum costs were offset by declining prices for other goods, a sign of muted inflation that supports the view the Federal Reserve will probably not raise interest rates in June.
The corn market remained unchanged last week and traded near $6.40 in the March contract. The futures traded in a sideways pattern last week as it lacked any fresh news. Decent export sales last week, a firm cash market and lack of farmer selling offered support.
BEIJING — Businessman Yan Yongxiang was trying to get around stiff U.S. levies on imports of cheap Chinese honey. So he sent 15 shipping containers of cut-rate honey to the Philippines, where it was relabeled and sent on to the United States.
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