The Plains states where the production of corn and soybeans is key are being hit harder by excessive drought conditions in the wake of the hottest month on record in the continental U.S., contributing to a surge in global food prices.The weekly U.S. Drought Monitor map released Thursday showed that the amount of the contiguous U.S. mired in drought conditions dropped a little more than 1 percentage point, to 78.14 percent as of Tuesday. But the expanse still gripped by extreme or exceptional drought - the two worst classifications - rose to 24.14 percent, up nearly 2 percentage points from the previous week. [AP]

Read More...