Impact of corn prices on food? Not what you think

Published August 1, 2012 5:24pm ET



NEW YORK (AP) — Cornflakes won’t necessarily be more expensive as a result of rising corn prices, but the milk you pour over them might be.

A drought covering two-thirds of the country has damaged much of the country’s corn crops and pushed grain prices to record levels, triggering fears that a spike in food prices will soon follow.

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