The U.S. Department of Agriculture predicts that America will begin recovering from the past year's drought that wreaked havoc on crop production.
Corn and soybean reached record prices in the previous year. Meat prices were also affected, as ranchers culled cattle herds in the face of feed shortages. Corn is the most valuable crop in the U.S.
Consumer food prices were predicted to rise 3 to 4 percent this year. However, increased rains should drive up food production, and lower consumer costs.
USDA economist Joseph Glauber forecast "record production" of corn and soybeans in 2013. Farmers are expected to harvest 14.53 billion bushels of corn and 3.41 billion bushels of soybeans, compared with just 10.78 billion and 3 billion bushels the year before, respectively.
A lower cost of oilseeds and grain will drive down the cost of livestock, dairy, and poultry production, and consumers should see lower prices at the market.
Over 60 percent of the United States was affected by the drought.
