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Kirk Maltais reported today at The Wall Street Journal Online that, "The worst drought in a decade is posing fresh challenges to farmers in the Corn Belt who already are struggling with surging costs, the dark side of a post-Covid commodities boom."
After drought shriveled US corn plants in the western crop belt, all eyes have been turned to Iowa to help save the national harvest. Instead, the fie
Matthew Dalton, Jim Carlton and Sha Hua reported on the front page of today's Wall Street Journal that, "Severe droughts across the Northern Hemisphere—stretching from the farms of California to waterways in Europe and China—are further snarling supply chains and driving up the prices of food and energy, adding pressure to a global trade system already under stress."
Energy Secretary Jennifer Granholm said gasoline prices should fall further after dropping to less than $4 a gallon for the first time since March.
Meatpackers have avoided closures with omicron but food inflation is rampant and slowing output will only exacerbate increasing prices.