i almost forgot about iowa. how could i?
commodity prices are already sky-high, and things took a turn for the worst last weekend when the midwest was flooded. tens of thousands of people had to be evacuated from their homes. the cost of corn rose about $7 a bushel for the first time (says nytimes.com) and the price of soybeans is up too. with the flooding destroying people's homes and farms, the consumer can only expect another rise in prices of those commodities. less supply, same demand = higher prices.
and people are without homes, and food. in the united states. more than a million acres of cornland have been washed out. again, we don't just use that corn for eating. it's in the gasoline, and that's already expensive.
corn is the heart of the food chain.
for more information on the iowa floods and corn, this article is pretty good. but, sad.
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