Global food prices jumped to a two-year high in April, with the FAO’s index hitting 128.3—just shy of the levels that helped fuel the Arab Spring. Wheat and rice surged on export constraints, while dairy hit records amid tightening European supply.

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Tyson Foods reports earnings this week, and the pressure from rising feed and protein costs, combined with margin compression and shifting export dynamics, could weigh heavily on results—offering an early look at how consumer staples firms are absorbing tariff-driven cost shocks.

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