Impact of U.S. Drought on Crops May Be Peaking, Vilsack Says - Bloomberg
The severity of the worst U.S.
drought in 56 years may be peaking, while its effects on corn
and soybeans, the nation’s two biggest crops, may not be known
until the harvests, Agriculture Secretary Tom Vilsack said.
The steadying of weather conditions may limit food
inflation next year, which the U.S. Department of Agriculture
predicted last month would be 3 percent to 4 percent, Vilsack
said yesterday in an interview at the Iowa State Fair in Des
Moines. It may also ease pressure to relax federal requirements
for the use of corn to make ethanol, he said.
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