Food squeeze feared as chance of U.S. drought seen

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WASHINGTON (Reuters) - The U.S. Midwest has enjoyed nearly 20 years without a major drought but forecasters worry the corn belt's luck could dry up this year, further squeezing tight global supplies amid soaring food prices.

With its last major drought in 1988, the Midwest has reached its average span of 18.6 years between droughts.

Considering that statistic and current weather conditions, Iowa State University extension climatologist Elwynn Taylor said the corn belt has a one in three chance of drought this year.

"We do have to be prepared," Taylor said. "A 33 percent chance is high, that's a risk."

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