A drought gripping the Corn Belt and more than half the United States has reached proportions not seen in more than 50 years, the government reported Monday, jacking up crop prices and threatening to drive up the cost of food.Read the whole thing. But when a story like this goes national, it's a very big deal.
Though agriculture is a small part of the U.S. economy, the shortfall comes as the nation struggles to regain its economic footing. Last week, the Agriculture Department declared more than 1,000 counties in 26 states as natural-disaster areas.
About 55 percent of the continental United States is now designated as in moderate drought or worse, the largest percentage since December 1956, according to the National Climatic Data Center, and the outlook is grim.
“The drought could get a lot worse before it gets better,” said Joe Glauber, chief economist at the Agriculture Department.
Tuesday, July 17, 2012
The Worst Drought in 50 Years Hits Agricultural Prices
From the Washington Post: