In its release of today’s Q3 GDP figure, the Bureau Economic Analysis said farm inventories subtracted 0.42 percentage point from the change in private inventories.
The historic U.S. drought caused corn prices to explode to record highs during the summer.
Hurricane Isaac helped relieve drought conditions by bringing rain to the south and parts of the midwest in the week to September 4, according to the latest report from the U.S. Drought Monitor.
[credit provider=”Wikimedia Commons” url=”http://commons.wikimedia.org/wiki/File:California_Drought_Dry_Riverbed_2009.jpg”] ST. LOUIS (AP) — Carol DeVaughan assumed her suburban St. Louis home was simply settling when cracks appeared in the walls. When she noticed huge gaps between her fireplace and ceiling, and that her family room was starting to tilt, she knew she had bigger problems.Like […]
[credit provider=”Robert Libetti/Business Insider”] It simply takes too much water to grow a steak. In a new report, leading water scientists say the human population would have to switch to an almost entirely vegetarian diet by 2050 to avoid catastrophic global food and water shortages.”There will not be enough water […]
The U.S. is still suffering from the worst drought to hit the country in over 50 years. And some parts of the country are being hit harder than others.
[credit provider=”Flickr via chapter3″ url=”http://www.flickr.com/photos/chapter3/3682724961/in/photostream/”] HERMANN, Mo. (AP) — Most of the grapes in Glenn Warnebold’s vineyard in Missouri’s picturesque wine country are about two-thirds of their usual size. Others have been reduced to raisins by the drought that burned up many crops across the Midwest this summer.Yet Warnebold figures […]
The US drought this week.
Corn prices continue to rise. At $8.30 per bushel, it is near an all-time high.
[credit provider=”Copyright: Basiswire”] It’s faded a little bit from the media’s attention, but the devastating drought in the farmbelt is still going on,a nd corn prices are very close to their peak of the year.A source who was recently in Nebraska sent us these pictures he took of a corn […]
[credit provider=”BloombergTVBest via YouTube” url=”http://www.youtube.com/watch?v=qIexV2eNskQ”] Analysts have warned that the fast approaching fiscal cliff, and the uncertainty around it, are expected to drag on GDP and hit the stock market. But Gluskin Sheff’s David Rosenberg writes that the global food crisis poses a greater risk to the economic outlook than the […]
[credit provider=”Daniel Goodman / Business Insider” url=”http://www.businessinsider.com.au/author/daniel-goodman”] Our (arguably) unhealthy obsession with steak means that we’ve been thinking about how the drought would affect our favourite meal for some time now.So we went after the story straight away. Business Insider reported that, in an effort to spend less money on […]
[credit provider=”AP”] The devastating U.S. drought has been causing water levels to fall in the Mississippi River.The AP’s Adrian Sainz reports:
The global food crisis of 2007-2008 is threatening to repeat in the coming months, as the worst drought in 50 years devastates the US corn crop, with 51% of the crop rated “Poor/very poor” by the US Department of Agriculture. This crop is said to be on a par with […]
[credit provider=”commons.wikimedia.org” url=”http://commons.wikimedia.org”] WASHINGTON (AP) — The government will buy up to $170 million of pork, lamb, chicken and catfish to help drought-stricken farmers, the White House said Monday as President Barack Obama brought his re-election campaign to rural voters in Iowa.The purchase for food banks and other federal food […]
[credit provider=”AP”] At a campaign stop in Council Bluffs, Iowa, President Barack Obama hammered newly minted Republican vice presidential nominee Paul Ryan for “blocking” a farm bill that Obama says would “provide relief and certainty to U.S. farmers and ranchers” during the worst drought in more than 50 years.The drought is a new line […]
[credit provider=”Deathdealeus 1984 via YouTube” url=”http://www.youtube.com/watch?v=dTmMiueFHb8″] Corn yields for 2012 are projected at 123.4, the USDA reports.That’s devastating — it would be the lowest average yield since 1995 if realised.