The Federal Reserve must be ready to raise benchmark interest rates in a timely manner given the "troublesome" inflation outlook, Kansas City Fed President Thomas Hoenig said Tuesday.

Soaring food prices may throw millions of Asians back into poverty, undo a decade of gains
and stoke civil unrest, regional leaders said as they urged a boost to agricultural production to meet rising demand

Investors wondering whether the agricultural commodities bubble has burst will get some important clues in next week's annual crop plantings report, considered a bellwether for the direction of farming activity for the year.

Stocks closed mixed in thin trading Tuesday as the tide turned in technology's favor. Airline stocks rose as oil prices receded. Merck skidded after an FDA rejection.

Stocks pushed higher Tuesday despite concerns about interest rates ahead of the Federal Reserve's decision. Merck skidded after an FDA rejection. Airline stocks rose as oil prices receded.

Stocks declined Tuesday amid concerns about interest rates and a slide in consumer confidence. Merck dragged on the Dow industrials after the FDA rejected a key cholesterol drug.

Stocks were indicated to open slightly lower Tuesday, but big moves are unlikely until the Federal Reserve announces its decision on interest rates on Wednesday.

The ethanol industry, once highly touted as a home-grown, alternative energy source, is struggling to retain its diminishing luster.

Concerns about food security mounted, as rice prices hit records in Asia and the United Nations warned that staples for the world's hungry were getting much more expensive.

Benchmark Thai rice prices leapt more than 5% to a record high above $1,000 a ton Thursday.  Meanwhile, Brazil has temporarily halted rice exports to ensure domestic supply amid rising world prices for the grain. 

U.S. rice futures rose to a fresh all-time high on Wednesday on worries about supply shortages which have triggered political unrest and export restrictions designed to protect dwindling domestic stocks.

Stocks opened lower Tuesday after disappointing guidance from Texas Instruments.

Stocks opened lower Tuesday after disappointing guidance from Texas Instruments.

Stocks opened lower Tuesday after disappointing guidance from Texas Instruments.

Shares of crop nutrient producer Intrepid Potash, which priced at $32 a share in its initial public offering, soared nearly 60% in its first day of trading on the New York Stock Exchange.