By SIMON CONSTABLE
A blistering drought across vital U.S. farmland looks set to destroy the crop of spring wheat this year if rain doesn’t arrive in the next few weeks. Without that much-needed moisture, prices for the grain could easily rally by more than 30%, experts say.
“We are going to have an extreme shortage of high-quality wheat,” Shawn Hackett, president of financial firm Hackett Financial Advisors, told Barron’s. “We are not seeing anything good in key growing areas.” Read more here.