Wednesday, July 11, 2012

Food prices could skyrocket as U.S. harvest continues to wilt in blistering heat

Fears that food prices will rocket at the end of the year after a poor US harvest were heightened after predictions that a drought across the Midwest will to continue for at least another week.

Maize yields are suffering after a long drought that hurt the crop in its crucial pollination phase, experts said, as the price of Chicago new-crop corn jumped more than 3% to its highest since last autumn.

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