As the UK goes through one of the wettest summers in recorded history, the US is experiencing one of the driest, with serious drought widespread across the continent and has allowed the US Agriculture Department to declare a natural disaster, enabling farmers to claim US government aid relief.
The U.S. Agriculture Department has issued a natural disaster declaration for more than 1,000 U.S. counties facing severe drought. This disaster declaration is the largest ever from the Agriculture Department and includes one-third of counties and spans 26 states. Some 53 percent of the Midwest is facing moderate or severe drought, but areas beyond the drought’s borders could pay higher world grain prices, due to a poor harvest.
This is having a big impact on the price of food crops, such as corn as the chart below shows.
Corn is the basis of thousands of products which dont appear to have any corn in them at all (Coca Cola, for example) and so we should see inflationary causing food price increases in the shops soon.
Americans also seem to think that this unprecedented weather might be caused by man made global warming, as a survey by Yale highlights: