Food prices jump will hit poor, World Bank warns, 10% Jump In July 2012

Burning corn will do that to you. If you are that stupid, then have at it.

Global food prices have leapt by 10% in the month of July, raising fears of soaring prices for the planet’s poorest, the World Bank has warned.

The bank said that a US heatwave and drought in parts of Eastern Europe were partly to blame for the rising costs.

The price of key grains such as corn, wheat and soybean saw the most dramatic increases, described by the World Bank president as “historic”.

The bank warned countries importing grains will be particularly vulnerable.

From June to July this year, corn and wheat prices each rose by 25% while soybean prices increased by 17%, the World Bank said. Only rice prices decreased – by 4%

The USA is sticking to the nonsense of converting billion bushels of corn to gasoline stocks. Stupid live high.

Inflation anyone? So exactly why ate the idiots at the Fed looking at QE3. It’s not going to reelect our stooge Preezy.

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