Flooding in The Bread Basket is Sending Grain Prices Higher

“Less than a year after the worst drought in a generation destroyed one-third of Russia’s wheat crop and sent global food prices surging, more bad weather is damaging fields from North America to Europe to Asia.

Corn planting in the U.S., the world’s largest grower, is advancing at half of last year’s pace because of excess rain, government data show. The Canadian Wheat Board said fields are so muddy that only 3 percent of grain has been sown, compared with 40 percent normally. At the same time, drought left the Kansas wheat crop in the worst shape since 1996, and dry spells are threatening crops in France, Western Australia and China.”

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