Wednesday, July 18, 2012

"Agriculture Secretary tells White House drought getting worse"CNBC

“In his briefing to President Obama, Vilsack said that the drought of historic proportions will shrink this year's harvest of corn and soybeans. The crops are used for food and feed and because of that Vilsack said meat and poultry prices will be higher this year and next….Hard-hit livestock producers and other groups want the Environmental Protection Agency to give oil refiners a waiver from the mandate to blend ethanol into gasoline, arguing demand for the corn-based fuel was driving up corn prices.
But Vilsack said ethanol demand was not a problem right now.”

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