Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

The Real Cost of a Sweltering Summer

By Lewis Braham - 2012-07-19T00:21:34Z

Photograph by Andrey Rudakov/Bloomberg

Company Symbol % Change
5 of 13

Cost to corporations

Higher prices for corn, which is used to make animal feed, sweeteners and ethanol, may mean higher meat costs for restaurants, including McDonald's Corp. and Popeyes Louisiana Kitchen. Companies such as General Mills Inc. and Coca-Cola Co. could spend more on grain and sweeteners. A more immediate impact is being felt by such companies as Deere & Co. Deere, the largest maker of agricultural equipment, saw its stock fall on July 17 after JPMorgan Chase & Co. downgraded its shares and cut its 6-to-12 month price target to $78 from $98 on concerns that the drought could slow sales of tractors and combines.

Advertisement