Index jumps 11.6% from year ago.

Three-phase expansion project in Waupun, Wisconsin, US, to start this year.

High costs not seen as a short-term event in value chain that centers on crop growers.

Export estimates lowered to 6 million tonnes.

This is the product's third award.

Food Outlook report notes developing countries reducing imports as commodity prices soar. 

USDA anticipates higher wheat imports for feed, but flour milling demand has eased.

COVID-19 disruption, war in Black Sea region lead to historic volatility.

Doug McKalip most recently has been senior adviser to Secretary of Agriculture Tom Vilsack.