Items Tagged with 'U.S. drought'

As the federal government takes action to keep barge traffic moving on the Mississippi River, the Independent Bakers Association sends a letter to President Obama, FEMA administrators and others outlining its members’ concerns.

The three UN food agencies urged governments to take quick action to curb the rising prices of corn, wheat and soybeans and avoid a repeat of the 2007-2008 food crises. The sharp rise in food prices in recent months could make life even more difficult for tens of millions of people, especially those in poor countries, warn the heads of the UN World Food Program, FAO and International Fund for Agriculture Development. A prolonged drought in the U.S., the top exporter of corn, wheat and soybeans, has helped drive up commodity prices.

Much of the Midwestern U.S. is still suffering from one of the worst droughts in decades. Serious damage has been inflicted upon the corn and soybean crops, producing record-high prices for corn and soybean futures at the Chicago Board of Trade.

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.