You might start paying more for groceries soon.
A recent report by the U.S Department of Agriculture shows future prices for some key grains will be skyrocketing in the future, according to the Chicago Sun-Times. That could mean inflation at the grocery store.
It is expected that prices for corn and soybeans will go up about 4 percent after production of those crops fell last year. Experts say producers' rising energy costs also is a contributing factor.
The Chicago Sun-Times reports the crops reached the highest prices in two-and-a-half years. March corn futures rose 24 cents to $6.31 a bushel at the Chicago Board of Trade, and soybeans went up by 58 cents at $14.15 a bushel, according to the Sun-Times.
Traders say supplies will be even more limited if developing countries continue to buy production in the United States.
