Record heat is extending over the midwest, (126 in Newton, Iowa) combined with the recent spring floods, the "Bread Basket" of America is not going to have a banner year nor a bumper crop.
A recent Wall Street Journal article touches more upon the subject of corn futures and how they are rising based on harvest forecasts. "U.S. corn futures jumped as a heat wave baking the Corn Belt caused the government to scale back its view of the upcoming crop and fueled expectations of further downward adjustments"
Bottom line, food, from Corn Flakes to corn fed beef is going to be more expensive come fall and next spring.
Are you prepared?
