Detailed text transcripts for TV channel - MSNBC - 20120709:14:39:00
>> reporter: anticipating a shortage, the corn -- the price of corn, corn futures, has shot up 35% in just the last three weeks. that's going to translate into higher prices at the grocery store for things like cereals, for tortillas, corn chips, that sort of thing. of course, corn is used in a lot of other products. you can see the ripple effect going on. now, a lot of farmefers and agricultural are comparing it to the 1988 drought, the last disastrous drought the united states had. total losses from that drought, $39 billion. >> thank you so much for that snoop. pom singer usher is said to...