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Floods in Midwest: Will you pay more for food after extreme weather?

March 29, 2019


The bomb cyclone and flooding that damaged a huge section of U.S. Midwest farmland in March could cost you at the grocery store.

Beef prices at supermarkets could rise 25 to 50 cents per pound and pork as much as $1, estimates Phil Flynn, a senior market analyst at the Price Futures Group in Chicago.

The impact on grains that go into products such as cereal will be more muted; two-and-a-half pennies per product is his forecast. Plus, food manufacturers might choose to swallow the higher cost of those ingredients rather than pass it on to shoppers.

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