Midwest Flooding Leads to Painful Record Corn Prices
Sunday, June 22nd, 2008The flooding in the midwest has flooded over 1 million acres of farmland. While this will raise prices for corn and soybeans that will help farmers not in the flooded areas, it will increase feed prices for cows, pigs, and chickens, further raising prices for beef, pork, milk, chicken, and eggs. The increased prices will continue to increase inflation which is going to give the Fed Chairmen more issues as they will have to debate keeping interest rates low to try and help increase the economy or increasing interest rates to try and fight off inflation which is being fueled by the low dollar, high oil prices, and high corn prices.
