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Severe drought is plaguing Mexico’s winter corn crop, the bulk of which is white corn used to make tortillas and other foods, reports ADM Investor Group. “The prospect of more costly tortillas would be yet another burst of food inflation for U.S. consumers. But in Mexico, the price of tortillas is a matter of national importance and one in which the government regularly intervenes, rewarding growers with price supports and currying favor with voters by keeping prices for the staple low,” a report from ADM Investor Group states.
