If you've been worried that this year's drought will put farmers out of business and leave Americans short of the staple crops they need to survive, relax. In its latest farm income forecast, the Department of Agriculture is reporting that U.S. farmers will make more money in 2012 than ever before, even as the country is facing its worst drought in 50 years. Here's how:
Record heat in Russia is hurting its wheat crop, sending the grain's price soaring. This may drive up corn and soybeans prices too, while the cost of coffee and cocoa, chocolate's key ingredient, are rising as well. Get ready to pay more for food.