- Along the Mississippi in Missouri and Illinois, the National Weather Service is predicting the worst flooding in 15 years. To date, flooding has destroyed nearly 20% of the Midwest's crops. Many farmers have commented that the current condition is 2x as bad as 1993. The flooding is hitting the corn crop hard, with some forecasters saying the crop will be down 10% this year. The biggest movers this week were once again corn (+10.2%), wheat (+8.3%) and soybeans (+5.8%). Corn prices are now up 56% year-to-date and up over 80% YOY.
- The company most levered to declining milk and coffee prices is Starbucks.
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