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Key crops likely to record drastic decrease as world experiences drought
date:Aug 10, 2012
Combined inventories of corn, wheat, soybean and rice are expected to drop 1.8 per cent to a four-year low before harvests in 2013, the US department of agriculture estimates. Crops in the US, the biggest exporter, are in the worst condition since 1988, heat waves are battering European crops and Indias monsoon rainfall already is 20 per cent below normal. The International Grains Council began July by forecasting record harvests. It ended with a prediction for a 2 per cent drop in output.

The

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