Impact of diminished corn supply on food prices
NEW YORK– Cornflakes won’t necessarily be more expensive as a result of rising corn prices, but the milk you pour over them might be.
A drought covering two-thirds of the country has damaged much of the country’s corn crops and pushed grain prices to record levels, triggering fears that a spike in food prices will soon follow.
But there are many factors that determine the price of goods on supermarket shelves. A diminished corn supply doesn’t mean that all food prices will be affected the same way.
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