European Crop Yields Collapse Amid Worst Drought In 500 Years

Europe’s agricultural body is forecasting a dramatic drop in corn yields due to the ongoing drought gripping the continent.

The plunge in corn output could result in further food inflation.

Supermarket prices for meat in the EU jumped 12% in July versus a year earlier, while milk, cheese, and eggs are also skyrocketing at record rates. $Invesco QQQ Trust (QQQ.US)$ $SPDR S&P 500 ETF (SPY.US)$ $Dow Jones Industrial Average (.DJI.US)$ $Nasdaq Composite Index (.IXIC.US)$ $S&P 500 Index (.SPX.US)$