Scenario Study: Puffed Up Corn Prices
Drought conditions causing corn prices to rise are benefiting rather than devastating corn farmers in the Midwest.By IBISWorld Senior Analyst Nikoleta Panteva The summer of 2012 will go down in history as one of the hottest the United States has faced. While this is undoubtedly good news for beach resorts and frozen yogurt stores , other US industries are experiencing a different fate. According to the US Department of Agriculture (USDA), the price of corn has already jumped nearly 50.0% from this time in 2011 due to a drought