Global food prices are expected to rise in the long term as population grows, but a new study warns that severe weather events like this year's drought in the U.S. could spike prices higher suddenly.
Despite, or perhaps because of, the Midwest drought, farmers are projected to make serious profits. But individual farmers will experience very different results.
New data from Gallup shows that 25 percent of Mississippi residents have struggled to feed their families at some point over the last 12 months. On average, 18 percent of respondents in the U.S. say they've lacked money for food at least once recently.
The aid, which dates from the Great Depression, could end when Congress acts on the next farm bill. The World Trade Organization has ruled it's an illegal subsidy, and legislators are looking for budget items to slash.
Cattle rancher Ken Lenox says farmers in Missouri are struggling with the Midwest drought. Some have resorted to tapping wells they haven't used in decades to provide water for their herds.
