“Ye offspring of vipers, who warned you to flee from the wrath to come?” Luke 3:7

Farming takes a hit, which means food prices could rise

Tue, 18th November, 2008 - Posted by Joshuah

Source: loggingStocks

The problems may be especially acute in the US where some farmers have been making a fortune off corn due to feed demand and ethanol. Many of those farmers decided to expand, take on more debt, and buy new equipment. The price of corn has dropped like a rock over the last five months. How are those farmers going to keep up with the debt service? In many cases, they won’t.

Get ready to pay more for an ear of corns and a loaf of bread. Farm failures are sending food prices back up.

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Category : Agriculture