Study: Corn Price Volatility, Not Oil, Should Be Real Concern

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A new study suggests that corn prices could spike in the near future because of climate change. Additionally, devastating heat waves could force U.S. corn producers to move their crops northward toward the Canadian border to avoid crop failures.

"Even one or two degrees of global warming is likely to substantially increase heat waves that lead to low-yield years and more price volatility," said Noah Diffenbaugh, a climate scientist at Stanford, whose study found that climate change's influence on corn price volatility may be more important than oil price fluctuation.

The study suggests that on top of moving northward, farmers should develop more heat-tolerant corn varieties in order to deal with the problem.

The research was published in the journal Nature Climate Change.

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