The U.S. Department of Agriculture’s World Agricultural Supply and Demand Estimates (WASDE) report was released Thursday afternoon and pointed to declining grain supplies that sent grain futures prices higher and will keep food inflation in focus.
California’s State Water Resources Control Board notified thousands of farmers of “impending water unavailability” as the state’s man-made drought accelerates.
(Michael Snyder) In my entire lifetime, this is the worst that drought conditions have ever been in the western half of the country. During the past 20 years, the amount of territory in the West considered to be suffering from exceptional drought has never gone higher than 11 percent until now. Today, that number is sitting at 27 percent. The term “mega-drought” is being thrown around a lot these days to describe what is happening, but this isn’t just a drought. This is a true national emergency, and it is really starting to affect our food supply.
