As reported by EPI yesterday, global grain stocks dropped “dangerously low” in 2012, largely as a result of droughts that “devastated several major crops—namely corn in the United States (the world’s largest crop) and wheat in Russia, Kazakhstan, Ukraine, and Australia.” What makes these lows very dangerous is that consumption of grains are significantly outpacing production. Demand is growing, while more and more crops are withering in the sun. (more…)