Record Flooding In Western US

Record flooding, thunderstorms, and potential tornadoes threaten the U.S. midwest, leaving an estimated hundreds of millions worth of damage. Since the start of the month, the continuous strands of storms have killed a total of six people, knocked out electricity, immersing roads under water, destroying homes, and pushing corn prices to record highs.

Some 3,200 homes were evacuated and 8,000 residents were forced to be displaced out of the area. According to the National Weather Service, Cedar River at Cedar Rapids overfilled its banks, and has risen to 30.85 feet, breaking the previous record of 20 feet from 1929. It is expected that the river will rise to 31.85 feet today before falling.

Corn Prices Rise To Record High
As much as 12 inches of rain fell in the Midwest this week, causing flooded fields and delayed planting. The price of corn is up by 25 percent this month.

It is expected for the U.S. stockpiles to fall by 53 percent before the 2009 harvest, making it a 13-year low.

Soybean crops are also in danger, with a July delivery rising to 14.75 cents to $15.5125 a bushel. Earlier this month, the price had reached to $15.5475, the highest since March 5.