by Chriss Street, Testosterone Pit.com:
Despite the hammering from a late winter storm that blanketed much of the Mid-West and East Coast with 4 to 8 inches of snow, the National Oceanic and Atmospheric Administration just predicted that the 2nd worst drought since the Great Depression will continue to lay waste to wheat and corn production across the America’s Great Plains. The compounding effects of the drought will slow the U.S. economy by up to 1% and cause food costs to rise by another 4%.
The annual spring outlook from the National Oceanic and Atmospheric Administration forecasts drier and hotter conditions across the Great Plains, including parts of Iowa, Kansas, Texas and Oklahoma, where farmers had dramatically increased plantings of winter wheat and corn in response to near record grain prices following last year’s drought. The 3 month forecast warns the late snow storms will also lead to flooding
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