Amid unusually widespread drought, warnings on food prices
The Christian Science Monitor - 07/16/2012
Americans are probably already seeing the drought’s impact, and it will get worse before it gets better, says Jeff Born, a finance professor and director of the executive MBA program at Northeastern University in Boston.
He visited parts of the afflicted area a couple of weeks ago and says there has been no significant relief with rain. He points out that while corn is resilient, if the stalk dies the ears cannot get water no matter how much rain falls later.
Bottom line, he says via e-mail, is that “if you like bacon/pork you should buy it now, because by the fall you are going to be stunned at what it will cost.”