User uShare Login | Register
Login
Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.


49° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options

RADAR LOCATION

TEMPERATURE LOCATION

Share your Photos, Videos, and Stories on uShare! Click here to get started.

KELOLAND.com | Sioux Falls News & Weather, South Dakota News & Weather, Minnesota and Iowa News

[0] My Saved Articles
Back to all news

Agriculture

Find local businesses
on the KELO Pages!

 

Drought Will Likely Increase Food Prices

July 11, 2012, 5:02 PM by Shawn Neisteadt

Drought Will Likely Increase Food Prices
SIOUX FALLS, SD -

Things are not looking good for the corn crop this year.

The Department of Agriculture put out a new report saying the expected corn production is down 12 percent this summer because of the dry conditions.  That is pushing the price of corn and other grains up and you don't have to be a farmer for that to impact your bottom line.

"The bottom line is we need rain. There really is no silver lining. This really is a tough situation," Sid Pederson of Pederson Commodities said.

Pederson has been in the business since the 1970s and has watched prices of corn and other grains go through plenty of ups and downs. But right now, with the ground drying out across much of the nation, prices are going one way and in a hurry.  

Pederson can't recall a situation like this is quite some time.

"1988 was the last time we had a full-blown drought and we raised half a crop that year and corn doubled in value," Pederson said. "It's hard to say, we could get rain yet, that's still a possibility, but a lot of areas are really hurting."

The increase in prices may not stop there. If grains continue to go up in price, that will raise the cost of feeding cows and hogs. In turn, those meat prices go up and could reach your dinner plate. 

"Eventually, it's going to cause some inflation. Higher grain prices certainly affect a lot of different things. We use corn for a lot of different things and food stuffs," Pederson said.

Pederson says everyone could use a good rain, whether you're living far away from the country life or on the farm.

"Certainly the farmers that I talk to are really in a tough position because they're not going to raise as big of a crop, which means less income. So, it really is a frustrating situation for everybody," Pederson said.

And it's not just corn; soybean and wheat production are also expected to be down.

Previous Story

Next Story


Comments







 
Find Local Businesses on KELO Pages!

View agriculture

You may also like

Britton Neighbors Help Farmers During Harvest

10/22/2014 10:00 PM

When health kept two brothers from Britton who farm together from the field this fall, harvest seemed overwhelming.  To say he'd be behind wi...

Full Story | Watch
Chickens Killed In Shed Fire Near Aberdeen

10/21/2014 12:07 PM

An unspecified number of chickens died in a fire that destroyed a shed southeast of Aberdeen.

Full Story
Corn Harvest Later This Year

10/21/2014 5:00 PM

Pheasant hunters may be eager to know how long it'll be before more of South Dakota's corn is off the field.

Full Story | Watch
Extension Service Reports Aphids Showing Up On Wheat

10/22/2014 5:33 AM

The warm fall weather is likely to blame for aphids that have been reported on winter wheat in central and southern South Dakota.

Full Story
Monday Ag Markets

10/20/2014 1:43 PM

Here's a look at agriculture markets as of noon Monday:

Full Story


Events