Corpus ID: 10967171

UPDATE July 2012 — The Food Crises: The US Drought

  title={UPDATE July 2012 — The Food Crises: The US Drought},
  author={M. Lagi and Y. Bar-Yam},
  journal={arXiv: Physics and Society},
Recent droughts in the midwestern United States threaten to cause global catastrophe driven by a speculator amplified food price bubble. Here we show the effect of speculators on food prices using a validated quantitative model that accurately describes historical food prices. During the last six years, high and fluctuating food prices have lead to widespread hunger and social unrest. While a relative dip in food prices occurred during the spring of 2012, a massive drought in the American… Expand

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