Explain why the drought will lead to a rise in the price of


Pricier bread and cereal. Coming soon? Wheat and corn prices surged last week and could hit the items in your grocery basket by mid-summer. It's a case of two extremes: drought in parts of the United States and in Europe have sparked fears of a supply crunch of wheat, while supplies of corn are being threatened by flooding and heavy rain in the Midwest.
Explain why the drought will lead to a rise in the price of bread.

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Econometrics: Explain why the drought will lead to a rise in the price of
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