Today’s USA Today includes a story about the prospects for higher corn prices due, in part, to a challenged U.S. crop this year. Click here to see the story.
Implications: The other part of this equation is higher world demand on a weaker world supply. With such a commonly used commodity feeling the effects of at least short term (2011-2012) inflation, consumers are likely to spend more for the same grocery store staples and restaurant favorites.
Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.