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Food prices to soar on back of devastating US floods

Breaking Earth News

An expanding drought in Australia's grain belt has already been blamed for contributing to a world food crisis, and now floods in the US midwest, which have devastated the corn crop, are adding to the misery.

The floods in states including Iowa and Illinois have already sent corn prices to new record highs and there could be worse to come.

Most of Iowa, in the US 'corn belt', has been declared a disaster zone. At least three people have died and tens of thousands have been forced to leave their homes.

As well as the human cost, Iowa's Governor Chet Culver fears the economic impact on the largely rural state could be enormous.

"One thing that we haven't talked about, which I'm very concerned about and is critically important, is the damage that has been done to our agricultural sector," he said.

"It is possible you're talking about $US1 billion ($1.06 billion) to just our agricultrual sector, in terms of loss."

Iowa is America's largest corn producer but many of the state's corn fields are under water.

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