Report: From Steak to Cereal, U.S. Drought Inflates Food Prices

U.S. consumers have just started to feel the effects of last summer’s drought at the supermarket. Prices are expected to continue increasing throughout 2013.
A South American drought keeps global grain reserves tight, but it could mean good things for North American corn producers.

Breaking Laws of Supply and Demand: Record U.S. Corn Crop Not Likely to Lower Food Prices

Favorable weather and prices, driven up by growing global demand and a series of droughts, have combined to push U.S. corn production to a new high — but retail food costs are not expected to drop.