Drought-damaged corn on a Michigan farm. (Robert Ray/AP)
The worst drought in a generation is punishing farmers and burning up the nation's corn crop. Nearly 65 percent of the nation is experiencing a drought right now, according to the U.S. Drought Monitor. Many farmers were just trying to get over last summer's dry spell when the hottest June on record rolled in, threatening to destroy crops and desiccate pastures.
While it's still unclear exactly what the drought will mean for the U.S. environment and economy, a few concerning consequences are already apparent. But experts predict other worrisome outcomes yet to come. (If you have stories or photos about how the drought is affecting you, share them with us here.) Here are a few consequences that could crop up due to the drought:
1. Rising food prices at home
The U.S. Department of Agriculture warned last week that Americans should expect to pay 3 to 5 percent more for groceries next year because of the drought. Most of the price hikes will be for chicken, pork, beef and dairy, since the dry weather is scorching up the nation's corn crop, which feeds these animals. Soybeans and wheat prices are also on the rise. Other fruits and veggies, most of which are irrigated, aren't likely to be as affected.
2. World food prices and social unrest
While no one likes to have to pay more for food, Americans are on the whole much less vulnerable to food price spikes because, on average, they spend less than 15 percent of their budgets on food. In developing nations, such as India, food spending accounts for nearly half of the average household's funds. While experts don't know for sure how the drought will affect world food prices, many nations depend upon America's corn, soybean and wheat exports. Colombia, El Salvador, Guatemala, Japan, Peru,?South Korea and East African countries are the most dependent on U.S. corn imports, the Guardian reported last week. Food prices and social unrest have been closely correlated over the past five years, leaving experts to fear a repeat of ?2007 and 2010, when waves of social unrest followed food cost hikes.
3. Sad, skinny animals at county fairs
Though far less serious than some of the other drought outcomes, the AP reports that prize animals showing up at state and county fairs this summer are far skinnier than their prize-winning ancestors. In one Wisconsin-area fair, entries were down by two-thirds, as farmers said they were too busy struggling to stay afloat with their dried-up pastures and the rising cost of feed to enter into the contests at all.
4.?Wildfires
Firefighters have been battling wildfires in Nebraska, Arkansas, California, Texas, Colorado and other states this summer. Extra-dry conditions mean more fires are likely as the summer stretches on.
5. Barges stuck on riverbeds, roads buckling
The drought is taking its toll on key transportation and infrastructure in the country. The Mississippi River has gotten so low that barge operators are worried they will get stuck while navigating it. They've had to lighten their loads, which means taking more trips to transport $180 billion in?grain, coal and other goods. Meanwhile, roads are buckling, water pipes are bursting, and power lines are burning up in wildfires due to the nine-month drought, reports The Texas Tribune.
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Last week, Rupert Murdoch resigned from the board of News International, the holding company of News Corp?s UK newspapers, as well as other subsidiary boards connected with News Corp in the UK and the U.S. News Corp explained the move as corporate housecleaning ahead of a restructure that will split the conglomerate into two distinct publishing and entertainment companies. Some watchers have been skeptical, suggesting this is a further step in putting distance between Murdoch and the UK print assets that have been embroiled in a phone-hacking and bribery scandal for more than a year. The taint was emphasized today when eight former employees of the now-shuttered News Of The World, including erstwhile News International chief exec Rebekah Brooks, were informed they would face criminal charges in relation to phone hacking. Other watchers see this as potentially setting the stage for a sale by News Corp of the UK papers which now include The Sunday Times and tabloid The Sun. If Murdoch no longer sits on 
the News International board, in other words, it makes it more plausible for a sale of that company to go through down the line. Still another view is that distancing himself from his beloved British press holdings is a means to clear the way for the acquisition of the long-coveted 61% stake in British satcaster BSkyB that News Corp does not already own.
Enders? senior analyst Douglas McCabe tells me he?s ?sort of sitting on the fence? as to the reasons behind Murdoch stepping down from the boards. ?In the end, it is about a sensible restructuring and governance and it is necessary to go through these steps.? But, he adds, ?I do also think it?s about reputation and Rupert drawing a line under the whole complex business in the UK.? Ken Doctor, media analyst for Outsell and Newsonomics, calls the move off the boards ?both symbolic and real? but says, ?At the same time, clearly the whole purpose of the split (of News Corp) is to remove the tainted assets from the entertainment corporation, and any way you can remove the Murdoch name from it doesn?t hurt it with the endgame being BSkyB in 2014.?
It?s not as if there isn?t precedent within the Murdoch family and its businesses. Back in February, James Murdoch resigned as executive chairman of News International, it was said, to focus on pay-TV operations in New York. But when he later exited BSkyB?s chairman post he said, ?I am aware that my role as Chairman could become a lightning rod for BSkyB and I believe that my resignation will help to ensure that there is no false conflation with events at a separate organization.? BSkyB is still under scrutiny from UK regulatory body Ofcom over whether News Corp is fit to hold a broadcast license ? an investigation that also stems from the phone-hacking issues in the print division. The younger Murdoch remains a non-executive director at BSkyB, but in March, he severed ties with News Corp?s UK print operations.
