Drought conditions will likely to lead to higher food prices
July 1, 2021
Almost 44 percent of the U.S. is dealing with drought conditions and 10 percent is under the worst form of drought. Another 13 percent of the country is dealing with drier-than-normal conditions for this time of year. All of the above may lead to water shortages for cropland and livestock pastures, consequently causing shortages of key commodities even as consumer demand grows, which will ultimately force prices higher.
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