USDA Declares Natural Disaster Area In 26 States
More than 1,000 counties in 26 states are being named natural-disaster areas, the biggest such declaration ever by the U.S. Department of Agriculture, as drought grips the Midwest.
The declaration makes farmers and ranchers in 1,016 counties -- about a third of those in the entire country -- eligible for low-interest loans to help them weather the drought, wildfires and other disasters, Agriculture Secretary Tom Vilsack said today. The USDA is also changing procedures to allow disaster claims to be processed more quickly and reducing the penalty ranchers are assessed for allowing livestock to graze on land set aside for conservation. Read more at Link Bloomberg
Get ready to pay at the pump with E-10 being used in fule!
This could make for a good presidential campaign issue if the Republicans wanted to eliminate E-10 to stabilize the food markets.
Our wallets are going to take a hit from the increased prices for corn and soy beans as the impact on the Midwest takes it’s tool on all the products that depend on these two crops. Everything from livestock feed to corn flakes will be on the rise.