Wednesday, June 18, 2008

Midwestern Flooding Will Hike Commodity Prices

This was some of last summer's crop at a farmer's market along a country road in Illinios. This summer's crop will be much diminished because of flooding all over the Midwest.

Flooding in the Midwest- food and gas is gonna get even MORE expensive

Looks like recent flooding in the midwest has ruined 5 million acres of cropland.
Iowa and Illinois produce the bulk of U.S. corn and soybeans (about 1/3).

What does this mean? Prices of livestock feed will go through the roof, price of gas- through the roof (as if it weren't already- since some of this cropland was grown for biofuel) and the price of soybeans and corn will soar! eeek!!

Check out my trip to Illinios and the making of Midwestern huckleberry pie HERE.

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