Have you ever wondered what the drought in Australia has to do with your dinner table and your exchange traded funds (ETFs)?
In every aisle, prices at the grocery store are higher. From chicken (up 10% retail) and milk (up 20%) to eggs (up 30%) and tomatoes (up 25%), according to the Bureau of Labor statistics.
The unfortunate drought in Australia has increased demand and pressure for U.S. farmers, while demand for ethanol has taken over most crop land that was used for soybeans.