How rain is affecting food prices in Minnesota - KMSP-TV

How rain is affecting food prices in Minnesota

Posted: Updated:
MINNEAPOLIS (KMSP) -

Recent rain shouldn't just be a welcome sign to farmers, but it should make you pretty happy as well. The precipitation is moving the futures market and bringing down the high cost of wheat, grains and corn.

That, in combination with the wet forecast for the week, means some good things for the Midwest, which has been ravaged by one of the worst droughts in the last century.

Corn and soybean prices on the futures market have surged to record highs, which means you are likely paying more at the grocery store for any products that contain those ingredients.

So, what did the rain do for us? How important is the forecast for this week? Or is it too late?

For you corn buffs out there, you know corn gets one chance to pollinate during the growing season. And if that window is missed...the crop could show a horrible yield for the season.

Some food corporations have even made sure they don't have to pass the cost on to you by buying their product before prices shot up. General Mills and McDonald's both did this to keep costs down.

Powered by WorldNow

KMSP-TV
11358 Viking Drive
Eden Prairie, MN 55344

Phone: (952) 944-9999
Fax: (952) 942-0455

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices