Mobile Version
Free Internet Press
  Uncensored News For Real People


FIP Year In Review

FIP Month in Review

FIP Archive Search




2014-07-09
R.I.P. William 'Bill' Herbert Kelder - Intellpuke

2013-11-28
Gamers Donate 37,500 Pounds Of Food To Needy

2013-09-30
Statement From The Whitehouse Regarding The Government Shutdown

2013-09-29
An Open Response To 'Organizing for Action'

2013-08-26
Bayou Corne: The Biggest Ongoing Disaster In The U.S. You Have Not Heard Of

2013-04-21
Boston Mayor Hopes Feds 'Throw the Book' at Marathon Bombing Suspect

2013-04-19
Boston Police Closing In On Suspects

2013-04-15
2 Explosions At Boston Marathon. 2 Dead, Many Injured.

2013-01-03
The Press vs Citizens Rights and Privacy - Act 3

2012-12-30
CBS News - Year In Review 2012

Nature.com - 366 Days: 2012 In Review

The Guardian - 2012 In Review: An Interactive Guide To The Year That Was

TruTV - The Biggest Conspiracy Theories of 2012

Colbert Nation: 2012: A Look Back

FIP Year In Review(s?)

2012-12-25
Happy Holidays

2012-12-21
Welcome To A New Era!

2012-12-16
An Open Letter To United Health Care, Medcom, And The Medical Insurance Industry In General

2012-11-17
Whitehouse Petition To Remove "Under God" and "In God" From Currency And The Pledge.

2012-11-15
December 21, 2012

2012-11-11
If Hillary Clinton Ran For President, She Would Probably Be The Best-prepared Candidate In American History

2012-11-10
CIA Director David Petraeus Resigns After FBI Investigation Uncovers Affair With High-Profile Journalist

FIP Format Update

2012-11-07
Thank you for voting.

2012-11-06
Live Election Results

2012-09-30
FIP In Hiatus

2012-09-18
U.S.-Afghan Military Operations Suspended After Attacks

Iran Nuclear Chief Says IAEA Might Be Infiltrated By 'Terrorists And Saboteurs'

Romney Stands By Gaffe

2012-09-17
President Obama Says China Trade Practices Harm American Auto Parts Workers


U.S. Drought Threatens Price Of Food
2012-07-11 16:14:49 (107 weeks ago)
Posted By: Intellpuke

The worst drought to hit the United States in nearly 25 years is threatening to drive up food prices around the world.

The price of corn, the staple crop of much of the mid-west and the prairies, has risen by a third in the past month and rose again on Monday after a U.S. government report said farmers would not yield as much from their parched fields as expected. Higher prices are likely to be passed on in the cost of hamburgers and steak and also affect a range of other foods such as corn flakes and bread.

Almost a third of America's corn crop is already showing signs of damage and a report released by the U.S. Department of Agriculture on Wednesday forecast that farmers would only reap a fraction of the corn expected last spring when they planted 96.4 million acres (39 million hectares) – the most since 1937.

The USDA now predicts that the corn crop will average just 146 bushels an acre, down 20 bushels from its previous forecast. It estimates the harvest at 12.97 billion bushels of grain, down 12% from the 14.79 billion bushels forecast in June. One bushel of corn equals 25.4 kilograms.

A mild and early planting season had raised hopes of a record corn crop. But then the drought came, sweeping from Ohio to California, and the hot weather is showing no signs of abating.

"To see something on this continental scale where we're seeing such a large portion of the country in drought you have to go back to 1988," said Brad Rippey, a USDA agricultural meteorologist. That year saw corn yield drop by nearly a third.

(story continues below)




While corn is pollinating, temperatures over 95F (35C) can stunt the growth of ears and prevent kernels from fully developing.

David Kellerman, a farmer in southern Illinois, one of the worst-hit areas, told AP: "Monday, Tuesday and Wednesday we had 108F. It just pretty much fried the corn."

The 12% cut in the yield forecast is the largest in memory and reignited a rally in grain prices. Corn on the Chicaco Board of Trade initially jumped 23 cents and later settled to a 15¢, or 2% gain, to $7.76 a bushel. Prices have climbed 34% in the last month.

Wheat and soybean stocks have also been hit by the drought and are lower than previously estimated.

Plunging corn yields are likely to push up meat prices, as corn is used to feed cattle. Meat prices were already rising and were expected to stay high after last year's drought in Texas forced many ranchers to scale back their herds.

Corn is also used as an ingredient in corn flakes, ketchup, bread and fizzy drinks, although it accounts for a small fraction of their costs compared to transport and marketing. Food prices typically climb about 1% for every 50% increase in average corn prices, said Richard Volpe, a USDA food markets research economist.

Corn, wheat and soybeans, the three most common U.S. crops, are used in a variety of foods from cereals and salad dressing to scones and cooking oil.

The U.S. government has already predicted food prices will increase by up to 3.5% this year.

However, even farmers who lose much or all of their corn are unlikely to go under. Most take out crop insurance to cover weather-related losses.

Intellpuke: You can read this article by Guardian Correspondent Julia Kollewe in context here: www.guardian.co.uk/environment/2012/jul/11/us-drought-threatens-food


Email To A Friend
Email this story to a friend:
Your Name:
Their Email:
 
Readers Comments
Add your own comment.
(Anonymous commenting now enabled.)

Creative Commons License
Free Internet Press is licensed under a Creative Commons Attribution 3.0 United States License. You may reuse or distribute original works on this site, with attribution per the above license.

Any mirrored or quoted materials may be copyright their respective authors, publications, or outlets, as shown on their publication, indicated by the link in the news story. Such works are used under the fair use doctrine of United States copyright law. Should any materials be found overused or objectionable to the copyright holder, notification should be sent to editor@freeinternetpress.com, and the work will be removed and replaced with such notification.

Please email editor@freeinternetpress.com with any questions.

Our Privacy Policy can be viewed at https://freeinternetpress.com/privacy_policy.php

XML/RSS/RDF Newsfeed Syndication XML/RSS/RDF Newsfeed Syndication: http://freeinternetpress.com/rss.php

XML/RSS/RDF Newsfeed Syndication XML News Sitemap