US regional weather has affected crop yields significantly this year. Arkansas rice yields are down 25%, wheat drilling in Kansas hasn’t started yet due to lack of subsoil moisture, and North Dakotan wheat has lost some test weight and is retaining low moisture levels leading to an expected 40-50 bushels per acre. Food prices are expected to rise next year, grocery store prices will rise between 3.5-4.5%, and bread and cereal product prices will rise more than expected.
U.S. Farm Report Weekly Recap
on October 9, 2011