GREENSBORO - Drought conditions in most of the U.S. mean higher food prices, but North Carolina corn growers are looking to profit.
Corn prices have jumped up 20 percent in the last month. Experts say the extensive drought damage may not be reversible, even if the crops get more rain soon.
High corn prices also mean higher cost of beef, chicken, eggs and other common household foods. A struggling soybean crop means you'll pay more for margarine and peanut butter, as well.
The corn crop is used for many different purposes, including fuel.
"This goes into not only feed production for all of our livestock, but also into ethanol production, corn oil, lots of uses for corn," NC Cooperative Extension representative William "Wick" Wickliffe said.
Experts say corn prices are almost twice what was expected for this year.