India To Ban Sugar Exports In Addition To Rice—As Corn, Soybeans And More Crops Falter In Extreme Heat And Drought

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Climate change is hitting the agricultural industry amid record-breaking heat and insufficient rainfall.

In Iowa, which saw its third year in a row of drought this summer, water-intensive crops like blueberries and strawberries have started to falter; oneJohn Duffy inspects a grain drill after making a repair after the it broke down while planting“I’ve never in my life seen the conditions of these soybeans go backward in such a hurry,” Matt Short, a farmer in Kansas, said Tuesday. “I mean, it’s just like an oven out there.

Within a couple of days, everything just started turning brown and dying off.”Futures for No. 11 sugar, the most commonly-tracked metric for the sweet commodity, rose nearly 2% Wednesday after news of India's pending ban broke—and raw sugar prices are up 29% over the last year. American customers paid 9.

 

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