U.S. Agriculture Secretary Tom Vilsack said he was on his knees every day, praying for rain in the Midwest, where a prolonged drought is withering crops in the fields and will likely push up food prices later this year and next. Vilsack urged Congress to work with the Obama administration to improve aid to farmers […] Read more
USDA’s Vilsack warns on food prices, prays for rain
Markets soar as USDA slashes soy, corn stocks
(Reuters) –– America’s stockpiles of corn and soybeans will be drawn down to uncomfortably thin levels this year, according to a government report Wednesday that sent grain prices soaring and added to concerns over surging world food prices. Dwindling stocks in the world’s biggest food exporter — depleted by strong ethanol demand and a sharp […] Read more
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