Forecasters say there’s a heat dome over the Corn Belt, and soybean prices are nearing record totals. Food inflation fears and fuel worries continue. The drought is affecting 55% of the land mass in the lower 48 states.
A joint petition proposing that the food additive regulations be amended to provide for the safe use of folic acid in corn masa flour has been submitted to the Food and Drug Administration by Gruma Corp., the Spina Bifida Association, the March of Dimes Foundation, the American Academy of Pediatrics, Royal DSM N.V. and the National Council of La Raza.
A record corn forecast made corn prices plunge after the government predicted corn production would rise this summer. Thus, consumers could see some relief from higher food prices by late fall, if the latest crop forecast holds up.