You thought high gas prices were bad?

Posted: 6/12/08 at 6:24pm

Wait till you see food prices this fall! Flooding is playing havoc with corn & soybean crops in Illinois & Iowa. The Missippi river will be closed for a minimum of two weeks this month, slowing delivery of fertilizer & seed, as well as grain from silos up north to grain markets down south. And Corn and (to a lesser extent) soy are part of just about every single thing in your supermarket- expect milk & meat prices to start climbing immediately as feed for cattle goes up up up...this is going to get very ugly.

"NEW YORK (AP) -- Corn prices climbed further into record territory Thursday after more rain doused the Midwest, leaving flooded corn crops deeper underwater and threatening livestock owners who depend on the grain to feed their herds.
Six weeks of rain have flooded untold acres of corn and soybean fields in the U.S. heartland, forcing farmers to abandon their crops and sending international food prices skyward. More bad weather is expected for Illinois, Indiana and Ohio on Thursday, forecasters say, meaning prices may could climb higher.

Corn for July delivery rose 5.75 cents to settle at $7.09 a bushel on the Chicago Board of Trade, after earlier rising to a new all-time high of $7.25 a bushel. It was corn's sixth straight trading record in as many days. Prices broke past the $7 barrier for the first time Wednesday."



Yahoo

[papalovesmambo]

Posted: 6/12/08 at 7:48pm

thank god they passed that farm bill subsidizing those helpless farmers.

[javero]

Posted: 6/12/08 at 7:56pm

"thank god they passed that farm bill subsidizing those helpless farmers."

McCain opposed it!

"I would veto that bill," McCain said, calling the farm bill an unwarranted handout to corporate farmers and an obstacle to freer agricultural trade worldwide.

This Libertarian agrees with McCain & Bush on this one but let's see how McCain's position plays out in the Midwest.