A recent tour of America's heartland show some disastrous conditions in regards to crop production with some people seeing a 47% drop in output for corn and soybeans compared to last year.
We've already noted that if you have been paying to prices at the grocery stores in recent weeks you have already seen prices going up. Much like oil, food product and the costs of their inputs aren't as likely to head down as fats as they went up as the crisis subsides. This will likely result in continued pressures on consumers already trying to make it in a weak economy.
See full WSJ article
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