The Midwest drought has withered the nation's corn crop and pushed prices up. Now, the market for alternative feed for cattle is skyrocketing — sending farmers scrambling for cheaper alternatives, like gummy worms and ice cream sprinkles.
Substitutes for expensive corn feed range from the unprocessed — straw and cottonseed hulls — to a teenager's diet — ice cream, chocolate and gummy worms.
The U.S. drought is fueling a corn shortage that's driving up prices around the globe. And yet, federal support for corn ethanol — a fuel additive — means some 40 percent of U.S. corn will be turned into ethanol this year.
Farmers in dry areas who rely on irrigation start off better in a drought than farmers who count on rain. But when water tables fall, irrigation starts to shut down.
Soybean prices have reached a record high, and corn prices are near records in the midst of a rough drought across the Midwest. It could impact all of us soon in the form of higher prices for everything from cereal to chicken.