Study: Climate change likely to increase corn prices over next 30 years, more than other recent factors

A new study predicts that climate change will affect corn prices more over the next 30 years than other factors previously identified, including oil prices, trade policies and federal biofuel mandates, reports Stephanie Strom of The New York Times. The study, published in the journal Nature Climate Change, suggests that frequent heat waves will cause sharp price spikes unless farmers develop heat-tolerant corn varieties or move production into Canada.

Corn is the nation's largest crop, and researchers found that moderate warming will likely increase the number of days of severe heat during the growing season, which will double the volatility of corn yields. The study was conducted by analyzing economic, climatic and agricultural data, and found that if climate change continues at 2 degrees Celsius over the next 20 years, temperature changes would make heat waves more frequent. (Read more)