By Rob Preece and Snejana Farberov PUBLISHED: 18:06 EST, 16 August 2012 | UPDATED: 18:59 EST, 16 August 2012 Buying a whole chicken at the supermarket or ordering a bucket of wings at your local fast food eatery may soon cost more than just a few months ago, and all due to the devastating drought that has wiped out one-sixth of the country's corn crop in the Midwest. Corn makes up 70 per cent of chicken feed. Since the beginning of June, price on corn has gone up 40 per cent, forcing poultry producers to spend more money on each chicken they grow.
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The USDA estimates that prices will jump next year by 3.5-4.5 per cent for chicken and turkey
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Drought has destroyed one-sixth of U.S. expected corn crop
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Farmers are forced to pay $8-$9 for a bushel of corn
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Soybean harvest expected to be the worst for five years
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Food manufacturers warn they will pass on price rises to consumers
At least 1,369 counties across 31 states declared disaster areas by the U.S. @placeholder.