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But right now we're tracking one of the worst weather emergencies.
To hit our country in decades take a look at this -- more than half of the country.
Is now suffering from moderate to extreme drought that's according to the government now only in the 1930s and the 1950s.
Has a -- covered more land so far we can tell you that there's little risk of a dust bowl type a catastrophe.
But crop losses are -- serious problem and it could get much worse if things don't change soon which could mean of course a big hit on our grocery bills.
Is this drop going to affect food prices in the grocery store and in restaurants.
Absolutely did and the longer it lingers in the -- the more severe becomes the greater the empirical -- -- farms.
Two weeks old -- he.
Lost 200 chickens.
They took a big hit.
-- -- -- -- -- -- I think people cut back in and really shop around and see it all you know be built managed try to manage their money and then they're really -- shop.
-- -- is Alexander Smith is live on the floor of the Chicago Mercantile Exchange was always gives us a good indication of future prices of some -- ride and Sandra.
I do we know how soon.
As some of these prices in the grocery store will be affected by this crowd.
Hey -- laud the trading that's happening right here in Chicago these -- the -- -- -- the prices are.
-- likely determining what you will be paying at the grocery store we're also looking at the green kids here in Chicago where prices have been skyrocketing.
You're looking at the -- people pets the wheat pits soybean pits and general what a lot of people don't necessarily realize that that 75%.
Of the foods that you biting your grocery store.
Have corn and that could take a look at these -- -- -- grain prices that we've seen.
Just over the past month corn prices up 35%.
Soybean prices up 18% wheat prices have rallied 45%.
So a lot of the big analysts out there that are looking at these food prices that consumers at the grocery store.
Are going to be paying more for your bread eat your cereal at your yogurt.
Milk salad dressing even.
It's basically the ingredients that going to most of what we by the purchasers agenda we're seeing those prices rising now and -- this weather continues will likely continue to see those prices go up the pressure and you know when you see that information you wonder what -- big analysts do when they actually go to the grocery store and -- they stop -- -- what -- put in their -- are they telling you anything -- about you know you can I can think now that might be a good idea.
Hey -- I'm really interesting we're hearing that cattle feed lots where.
Obviously -- -- stock up on things like pork in your do you -- -- going your dinner every night cattle feed lots are losing as much as 200 dollars an animal.
Remember all those greens where we just pointed to the higher prices are used to -- those animals and Sanderson Farms one of the largest chicken producers in the United States to that for every ten cent increase in the price of corn.
Their costs go up to point two million dollars -- there's been a lot of tents that increases that you're likely this year meat prices rise -- stock up and fill that -- companies by an otherwise at this point.
I can't thank you very much vacancy today at the Chicago -- it's him.
And you -- feel for those family farmers out there were suffering under this drought -- and it is.
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