I have mentioned in the past that food-related companies will be major beneficiaries of climate change.
Unusually cold periods in Europe, which froze vegetables as far south as Spain, are one recent example of how even modest temperature changes can have dramatic effects on crop yields.
Now latest reports show that at least 1 million acres of US farmland were covered by water for at least seven days in March.
“That is an agricultural disaster without equal in modern American history,” according to observer Michael Snyder. “With more rain on the way, it is essentially going to be impossible for most of those acres to be usable this year.
“And with as many as a million calves lost to the flooding, a lot less food than anticipated is going to be produced in the United States for the foreseeable future. “Prices for beef, dairy, wheat, corn and soy products are going to rise significantly, and just when you think they are way too high they are going to keep on rising.”