Why the drought will lead to a rise in the price of bread


Problem

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.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Microeconomics: Why the drought will lead to a rise in the price of bread
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