World Food Prices Down for Now

According to the monthly report of the United Nations Food and Agriculture Organization - world food prices dropped for a third straight month in June. That brought prices to their lowest level in nearly two years - since September of 2010. The report showed that global prices of a basket of food commodities fell by 1.8-percent from May. Unfortunately - the agency says the dry weather of recent weeks could cause a spike. The U.N. agency also lowered the forecast for 2012 world cereal production - though still forecasting a record harvest up two-percent from the previous high set last year.