The Food Chain: Worries Mount as Farmers Push for Big Harvest

An article in today’s New York Times regarding this year’s global harvest and increasing concerns that it will be below average. The article mentioned that the Department of Agriculture estimated on Monday that one plant in 10 has not emerged from the ground mostly because many states in the Midwest like Iowa and Indiana, have been experiencing constant rain and the land has become waterlogged. USDA Chief Economist Joseph Glauber commented that “if we have bad crops, it’s going to be a wild ride. There’s just no cushion. The article also noted that due to the rain in the Midwest, the price of corn on the commodity markets rose Monday to a record $6.57 a bushel. University of Illinois professor Emerson D. Nafziger said “We can’t snap our fingers and make high yields. We still depend on the weather.” The articled also cited harvest problems around the globe including the drought in Australia, expected torrential rains in China, and the soaring costs of farming in the Philippines.

Here is the link to the full article.