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06-14-2008, 12:31 PM
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Midwest Floods Devastate Corn Crop
http://www.foxnews.com/story/0,2933,367007,00.html
Corn's importance in this country is hard to over emphasize, as a ridiculous amount of our food comes indirectly from corn. Prices will rise globally, just at the time when we needed it the least. Right after all of the ethanol madness drove them up previously. However, one effect of this disaster might be to force them out of business. Floodwaters also hurt soybean crops, sending prices to near all-time highs. Wheat, oats, rice and other food commodities were damaged, too.
__________________
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The Cato Institute ......................The Ludwig von Mises Institute ...................The Prometheus Institute 
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