jane wells has a look from iowa and formers how they're betting on the drought tolerant seeds that willp. >> good afternoon, here in owen county kentucky, we're at american water facilities where the brought has been an opportunity for this company because they used forward planning to move into the future. this if i felt was built two years ago in response to drought like conditions. it was a $164 million investment, but without it they would have been hard pressed to meet today's consumer demand. the question now is how to continue their momentum into the future. >> only 1% of all water is actually consumed. that you actually drink. the rest is used for laundry, showers, and outside irrigation. do you really need to have treated water to irrigate your lawn with? >> great question. he expected more water reuse in in the future. something more companies are working to develop. it's a priority here in american water, they plan to spend to help expand and main tear their network. >> yesterday, jane wells showed us drought tolerant seeds, and now she has a upclose look. >> maria, some farm

and jane wells is there to tell us about it live. jane? >> reporter: hi, tyler.ealty track says the inland empire with the highest foreclosure rate in the nation in may but in the land of opposites there's an area of real estate booming out here. really big boxes, over 500,000 square feet. looking at now is skechers state of the art north american distribution center. leading directly from the ports. a $200 million project requiring them to be coowner of the building. not just the tenant. >> what construction loans became such a very difficult thing to obtain, we had to partner for that to happen. >> currently we have 15 transactions in the markets circulating today for facilities in excess of half a million square feet and 4 of those over a million square feet. >> reporter: all right. well, you are looking at now is one of those new facilities for understood armour. amazon also moving in to california building a million square foot distribution center. rents fell 40% from the perks. now back up to 10% to 15% down. cdr says another 10 million square feet on the d

jane wells is live in l.a.ting on the cost of a typical breakfast, a typical west coast breakfast. >> reporter: oh my gosh, simon. still doing battle with the meat eating bee. for a lot of things prices are going way up and paying more. for example, in this power breakfast or lunch as we should say, sirloin prices up 15% a year. whole chicken up 16%. ham up 8%. bacon up only less than 2%. cheddar cheese up 13% and milk and egg prices down. $8 corn in the meantime. the new normal. we are trying to find out how much the cost of corn goes -- how much corn in the products. i asked livestock producers how much corn to feed an animal over the life span and how much product out of the animal? start with the steak. okay in the 16-understand steak averaging $6.90 an ounce. over to the eggs 5 cents worth of corn. 3% of the overall retail price. 16 cents worth of corn in a half pound of bacon or 7% of the retail price. smaller percentage of the overall price in beef because pigs are more efficient with the feed and milk,

jane: well done, chef. yeah, let's tuck in. ben: i'm starving! me, um, are we not going to say grace? ooh. well, we--we we don't usually... we're not really religious, you see. mack, because-- we don't... it's not something... i just thought we've all got our health and all this lovely food, when there's loads of people out there wi' nothing. yeah, i suppose you're right. some hae meat and cannae eat, and some hae none that want it, but we hae meat and we can eat, so let the lord be thank it. very nice. yes, very nice. amen. karen: i didn't understand a word of that. jane: roaring? jake: king kong! frank-- frankenstein. it's got four syllables. he's really fat. we give up. um, i don't know. i give up. it's impossible. it's shrek! i thought you said it was four syllables. four syllables. it is! sh-r-ek-uh. shrek. oh, my god. no, sh-- well, it's-- drown, swim! drowning bunny! jane: stag. jake: zombie! ben: drowning deer! drowning stag. drowning-- drowning fish. pigeon. drowning. finding nemo! we give up. what is it? just tell us. it's an inconvenie

jane wells has been out and sent us this report. >> reporter: this is what a lot of farmers have this year. this what some have. the lucky few who paid big for it. >> oh, that is a good ear. >> reporter: that ear came from the first widespread commercially available seed spread specifically for drought called aqumax by pioneer. the drought tolerance comes from native bred into the seed. they only had enough for 2% of all corn. >> we old out. >> reporter: could you have sold more if you had it? >> yes, would have liked to have more. >> reporter: it costs twice as much as conventional seed but promises better results during drought, considering you get a little rain and your farm sure vives. >> if i can promise him an increase, even though thing are -- >> reporter: there will soon be competition. monsanto is field-testing its own drought-tolerant seed as the seed market is expected to grow from $46 billion this year to $58 billion in four years with a third of soez seeds genetically engineered. jane wells, johnston, iowa. >> there's always -- the ill wind, somebody will do well out of o

jane wells is live with the details. hi, jane. >> hi, sue. no one watches more grain prices than the restaurant. how expensive? association today released what david maloney calls a down-right scary moment. the green line is short-term moving average on corn. the blue is long-term. corn usually rises 21% meaning we could see $9.50 corn. corn has been up and down today as everyone waiting for one of the biggest usda reports of the year. this friday, the first projection based on field surveys of how bad the crop is going to be. back to you. >> jane, thank you very much. >>> it's restaurant week on wall street. outback steakhouse making the public debut on the nasdaq today. parent of hardee's going private on friday. look at where the stock is right now. $12.62. a 14% move higher today. "power lunch" exclusive now, liz smith. welcome and congratulations. >> thank you. >> very exciting day for you. you're happy with the opening, i'm sure. >> it's a bloomin wednesday for us. >> look at what jane was just mentioning and that is corn prices. how do

joining us is jane wells and john carny. welcome, guys.ays families with annual incomes of $92,000 to $105,000 seeing the biggest jump in student loan debt. is college too expensive? i think it is for sometime. what do you think? >> i am living this story. our son's at a junior at usc on a scholarship. our daughter graduated after two years in community college. after all that savings, we're still on the hook for six figures for their college education. i know people wealthier than i am pushing kids to cheaper alternative. students are going to default. lending will tighten up and then prices will fall. >> john, feels like an inflection point. everybody's talking about the point saddling the next generation with huge debt. >> this is 2005 when we first started to hear, well, maybe it's not so bad to default on the mortgage. right now, at the point where people saying maybe you don't have to go to college. we had a guest on the 20 under 20 special saying, you know, college is a pretty good place to meet girls and that's when i went. it's an

jane wells is jumping into nike's new frontier. >> the new shoes, i heard from a lot of men who talked about cheap food. we also discussed whether nike's margins are out of line. we will have that after the break. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. and [ male announcer ] when this hotel added aflac to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha! to dabble with the idea of hybrid technology, it's already engrained in our dna. during the golden opportunity sales event, get great values on

jane wells joins us live from iowa. >> our top money pros will bring you up to speed when we come backwith the fidelity stock screener, you can try strategies from independent experts and see what criteria they use. such as a 5% yield on dividend-paying stocks. then you can customize the strategies and narrow down to exactly those stocks you want to follow. i'm mark allen of fidelity investments. the expert strategies feature is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. we have a upclose look at some of the super seeds their fostering there, jane? >> this is a whole pile of money here, they all have drought tolerant seeds. >> todd frazier says pioneer sold out it's seed, 2 million acres worth and hopes to increase sales next year, they cost twice as much but promise greater yield or greater on whatever percentage of crop is not a goner. >> if i offer him a 7% increase, they're going to notice and ask you questions as far as, okay, i'm interesting, talk to me. at $8.60 a bushel it starts to rack up. >> up in min

dejoria and barry knapp, plus fiscal disaster in california, that's what the music is all about, jane wellsll, california's restructuring itself, one city at a time. how bad is it going to get? please, jean paul mitchell systems, don't ever leave beverly hills. we'll show you a financial heat map when we come back. you have a plan? first we're gonna check our bags for free, thanks to our explorer card. then, the united club. my mother was so wrong about you. next, we get priority boarding on our flight i booked with miles. all because of the card. and me. okay, what's the plan? plan? mm-hmm. we're on vacation. this is no plan. really? [ male announcer ] the united mileageplus explorer card. the mileage card with special perks on united. get it and you're in. heart of every innovation. wow. that feels really good! and now, sleep number introduces our new memory foam series-the only memory foam beds with exclusive dual-air technology that adjusts on each side. memory foam just found its better half. sleep number. enjoy introductory savings of $500 and two free coolfit pillows! plus, a special

jane wells is breaking down how that is trading. >> i'm in california, and they say the number of job postingings here has not changed, still plugging along. they are expanding in southern california. california is not a swing state in this election, but let's look at 14 states that are. from june to july, 13 of 149 states saw their unemployment rates go up including nevada at 12% in no swing state saw a drop month to month. most of these key states have rates that are below the 8.3% for the u.s. as a whole. what about changes from a year ago? that's the opposite. seven states have seen their unemployment rates drop by more than 1% from july 2011 to july 2012. the rest are basically the same as a year ago. we talked to people here looking for work about the economy and the election, my favorite one is from pam. >> when i say i'm hungry and stressed and somebody says economy, or recession, i go you know what? i won't tell you what i tell them, but you make your own breaks. >> she's trying to do that. she says she can type 100 words a minute and make zero mistakes, hire that woman. >> t

. >>> for now, jane wells is live in johnston, iowa, reporting on a new way to beat the drought with a supersede. jane. >> reporter: tyler, the president was in iowa today, touring cornfields. you can see the devastation from the drought, complaining congress hasn't passed a farm bill. back in the last drought of '88, this is what state-of-the-art seeds could do for you. 20 years later, the difference in drought tolerant seeds, corn that's healthier and more productiv productive. >> that is a good ear. >> reporter: that ear came from new drought tolerant seeds developed by dupont getting their first test. are they worth the high cost? they delivered 3% better in normal years and 7% with the drought. they ran out of seeds and with the drought affecting new seed growth, what about next year's supply? >> we mitigate the risk in those seed fields with irrigation. we sold out of hybrids this year, yes. >> reporter: could you have sold more if you had it? >> yes. would have liked to have more. >> these seized are more than conventional seeds and said they could lead to higher prices. dupont

jane wells is in l.a. as she's stockpiling the big gulps. >> reporter: i know. it is not just big drinks here but any sugary drink. a tax on the drinks is two purposes. reduce consumption or raise revenue. two california cities asking voters to approve the penny an ounce tax, both need money badly an higher obesity rates. the tax charged to businesses not consumers so businesses from walmart to 7-eleven to the barbershop with the vending machine in richmond will have to decide whether to pass the tax along. >> i don't think they're gong to help. they'll affect a lot of customers and small businesses like i have. >> so the fact that i have to go and spend more money on a soda costs me to raise up because i'm like i can't make the same amount of money if i'm sitting up here, you know, giving it to you for 75 cents and i'm paying a dollar on it. that's unfair. i'm losing and not gaining. >> reporter: richmond councilman a physician is spearheading the vote saying actor danny glover thrown in support. they confirm to us. he expects businesses will pass along the tax

jane wells is here to put the price tag into privilege.> brian, you could buy this for that amount of money or fly round trip from beautiful burbank to los angeles labor day and still have 100 bucks to lose at craps. i could only come up with 50. folks on twitter gave me more suggestions. at $315, the new nike is a really big shoe. how big? for that money, you could buy apple or half a share. you could buy facebook, 16 shares. quote, 20, if you wait until next week, tweeted rich walls. that money could buy five or six doses of sedatives for shareholde shareholders. hotter than lebron right now is corn. warren rogers tweeted you could buy 37 bushels at 3315 bucks, quote if you hurry. you could buy a kindle fire and trilogy and writing crop. or buy a shoe. not through nikes, but 3$315 wil buy you a lot of animal cheeseburgers and only one jimmy ch ew o red pump proving women's shoes are even more outrageous. >> that's the crime. if nike's is 45%, imagine jimmy choos. you could get 11 pounds of bake con and the others suggested you buy cheape

. >>> power rundown time, joining us to talk about the day, bob pisani and jane wells.l media and who is responsible. a rumor on twitter may have moved the oil market yesterday and now the nypd wants to know who is tweeting about another colorado-style theater shooting. i guess the question is how do you regulate or can you regulate social media. miss jane, what do you think? >> i think you better be careful with this. i like toaire err on the side e f free flow of information. twitter shut down this guy. and if the judge agrees with the police, they'll issue a subpoena. >> if you're spreading false information to enrich yourself on trading stocks, that's illegal. you can get arrested about that. i don't know about shutting down the account but that person certainly should be held liable. . >> next up, president obama slam s presidential candidate's tax plan calling it romneyhood, taking money from one class and gives it to the rich. another form of class warfare. >> i thought that was a funny line, made me laugh. then call him the sheriff of nottingham or nothing ham,

jane wells is in los angeles live.n mitt romney took a dig at california talking about the europe crisis, jane. >> reporter: we are easy to hate. maybe because the weather is so nice. census bureau saying that the pension plans outperformed other states over the last year but they also had to give out bigger payouts. people are concerned about the bonds. the state obligation bonds aren't the ones to worry about it. it's local general obligations and those based on future lease payments. but i have the list from the state of school district that is are either not going to make their financial obligations or may not make them over the next year. 12 school districts from the state saying they won't do it. another 176 saying they probably won't make the financial obligations. 188 districts. at leastingly enough with poway with the bond isn't on this list. that bond is stale rated aa-minus by standard & poor's. >> what are cities try to do to avoid bankruptcy? >> yes. they're trying to sort of threaten everybody and get eve

cnbc's jane wells has that story. jane, do i need to grab grapefruit juice now?: man, i'm just out here and eating and drinking and whatever. i'm not orange juice this year. it's down 30% for the year and turn around and look at september, juice lately, up 14 pstz this week on the fears of isaac and traders selling november futures down generally. those have the greatest number of volumes but o.j. continues to be a weak category for a few years. domestic sales fell 6% in july by volume. 2% by sale over a year ago and prices up 5% and the numbers dragged down by the double drip in frozen juice concentrate and shoppers sensitive to high prices and people insisting on fresh juice continuing to pay more. those sales are up in a year even after $7.39 a gallon. that's good for pepsico's tropicana. simply has the largest dollar share according to wells fargo and then tropicana and then minute maid. coke, pepsi, coke. here's one knock against orange juice isn't the high price but the high calories. o.j. sales down 7% in the first half. as people are switching out to wate

zirchlg as we showed you moments ago our own jane wells is live from the nation's largest outdoor farm out with a pretty large good-looking tractor there, jane. i understand you've been sorting through the sales data from some major ag machinery companies. >> reporter: this is just amazing. this one is 340 horsepower. only about $320,000. with this summer's epic drought affecting the corn, will farmers buy this stuff? well, at the show expected this week are 200,000 people at the farm progress show. they're going to kick some tires. equipment sales jumped double digits in north america. especially for tractors over 100 horsepower. can that last? >> there's nothing here. >> reporter: farmer carol miller represents a potential nightmare scenario. she'll start harvesting next week, and only then will she know what she has. miller will be at the show here, but only to window shop. >> we're going to hold back. we want to know what we have and what we can afford. >> there's a lot of wait and see right now. people waiting to see what insurance payments are going to be, what their cash flow si

our jane wells is live at the gas station in burbank. jane? >> reporter: you know what?dy, take a look at this. cheapest gas is just shy of $4.20. any spike is exaggerated here. partly because we have to form late our gas specially in the summer and we have to ship in crude for much further distances than anyone else and then the refinery fire earlier this month in the bay area and california now one shutdown away from a crisis. european prices in the two weeks since that fire gas up 40 cents here and the national average is $3. 0 a gallon, $4.12 in california and happened fast. >> it goes up like that. and then it never goes down. >> horrible. >> it's horrible? >> i'm paying a fortune. i must pay, you know, a couple hundred a week. and that's a lot. >> it's ridiculous but i walk a lot, too. i'm very environmental. >> not like you go to 99 cent store and buy a banana cheaper than it is. you need gats. >> we're kind of stuck here. we don't manufacture here in california. we can't import because of the requirements of our air pollution problems. >> reporter: the oil price

i was supposed to get go to jane wells. it's opposite day, i made a mistake. we're going to compton now. it's all you, i destroyed the show. in the hamptons, talk about h p hampto hamptons, playground for the super rich. there are hundreds of homes on the market. we have a cottage which is for rent this summer, still available, three bedrooms, two baths, not much of a bargain, but the fact that it's available is news here. for a higher budget, we have this eight bedroom place, and it's $275,000 for a month. it's cheaper than the one that beyonce and jay-z are renting, that one is $400,000. sales in the hamptons up 9%, the highest level in six years, so a lot of potential renters have purchased. there's still deals out there, maybe we could do a hampton's bureau. >> that would be great, we can skype in. let's get back to jane, how far have prices fallen in compton? >> here i am from the compton bureau, how far have prices fallen here, here is that report from 2005. all righty. it was a great report from 2005, because my hair was shorter, and i think i look bett

all that talk about facebook's ipo being a big boon to california's economy, well, jane wells, the state like button, are they? >> no. facebook was supposed to save california and sacramento may have to unfriend it. back before the ipo, the state predicted facebook shares would be at $35 in november when insiders could start selling. now it's considered conservative at the time. technically still possible. california predicted nearly $2 billion in extra taxes because of the ipo before the end of the fiscal year. oops! in the don't count your chickens hatch department, the legislative appear list's office now says, quote, if the company's stock price remains depressed, hundreds of millions of income tax dollars are at risk. on the other hand, hundreds of millions have reasonly been discovered hiding in special state funds nobody knew about including a $113 million surplus in a bottle recycling fund and the one making everybody crazy here, $54 million hiding for years in the parks department, discovered after the state had threatened to close dozens of parks, including some beaches, unless

jane wells went up to piru, california, just east of oxnard.hey're also dealing with, of course, a labor drought. hi, jane. over to you. >> reporter: hi, simon. it's drought of a different story. california's a nation's number one farm state but tougher immigration and an inadequate guest worker policy has farmers from wine grapes, peppers competing for fewer and older farm workers. sergio diaz trying to fulfill contracts of growers. the western growers association says farmers report 20% fewer workers and wages go up, the people here making $9.25 an hour. some crops are going unpicked. do you have any locals coming out here applying to pick these crops? >> none. absolutely none. we're having trouble getting truck drivers and more skilled, what might be called skilled labor. we grow carrots, beets, turnips and we left behind turnips. we left behind the crops that paid less. so it's kind of a triage. you pick those that are paying. >> reporter: it's a fact of life. most pickers in california imlegal and the crackdown at the border is working. me

jane wells with more on the usda report. jane? >> hi, tyler. it was bearish for wheat and soybeans are the only commodity up right now. corn spiked and came back down. it appears a lot of traders think the usda got it right this time and dramatically slashing expectations for corn. ratcheting down projections much more quickly than they normally do. justifying the current price. the u.s. is projected to have the smallest corn harvest in six years and lowest yield in 17 years. prices could get close to $9 a bushel but the usda also predicted demand will drop as a result. they're not seeing that. >> we actually could go to $9.50 and start to ration. everybody talks about demand rationing. i don't see it yet significantly. i can tell by the volumes and the market trades that it's very nervous at these highs but the numbers justify where we're trading right now. >> piper jaf ri says less this year means more planting next year and jpmorgan says it likes dupont making pioneer seeds and going to pioneer's lab in iowa next week and numbers just out fr

we move on now to jane wells in nevada, iowa, with more on how one farmer is getting through the drought of 2012. >> reporter: tyler, ugly. they're going to be talking about the drought of 2012 for years to come. for old timers, it is bad. for young farmers, it's scary. >> we have gone from a disaster and productionwise to borderline catastrophic event for agriculture. >> reporter: from farmer to farmer -- >> definitely, i mean, the highest prices we have seen. >> reporter: old macdonald had a drought. e i e i ouch. >> it crackles. no choice which you are in that leaf at all. >> reporter: mark kinny's family farming in iowa for 130 years. and each generation has had to survive its own great drought. this is his. >> don't kid yourself with $8 corn. the reason why we're there is because we got ears like this. >> reporter: kinny wishes high prices based on demand. the crop will be smaller, a lot smaller. but he'll survive, though he's concerned about next year. >> all sorts of rumors of the mississippi's too low to get barges of fertilizer up here. buy now. >> reporter: farming is the only

cnbc's jane wells is in california with the financial fallout. jane? >> reporter: hi, sue, yeah, we have fire damage here. mopping up a 12,000-acre fire over the hills here. over the nation, over 43,000 wild fires so far this season. mostly in colorado, now california where we have ten fires burning, most serious one in northern california where nbc has an update. >> good afternoon. the ponderosa fire here in northern california charred some 28,000 acres. this blaze, though, roughly 57% contained. and while crews are certainly making progress on the front lines several homes are still threatened. 900 properties are still in danger. as nearly 70 have been destroyed. the big concern today is going to be those winds. firefighters are hoping to make a stand near the town of mineral where the latest evacuations could come. some homeowners allowed back in to the homes. they're no longer in threat as the fire shifts to mineral. going to be a busy and very long and hot day here on the fire lines. jane? >> reporter: thank you. here's the financial disaster. cal

jane wells is live in glendale, california, with more on the states under the most unemployment pressure. jane? >> reporter: hi, sue. i'm at a jobs center and some of the states with the biggest swings with swing states. look at the largest overall change of unemployment over a year. four of the five states with the biggest drops in one year are swing states including nevada. july, rate down 3% from a year ago and the highest in the nation at 12%. the states with the lowest improvement is two swing states. new york is the only state to have a higher jobless rate in july than a year ago. the empire state ranks 34th overall in the 2012 top states for business. california, largest state in job creation and adding a thousand jobs a day. 365,000 in a year. ohio added 100,000 in large part to the natural gas industry. states with the smallest job growth, rhode island, only state with fewer jobs than a year ago. what do people looking for work think about the economy and the election? we asked a few of them here in glendale. >> we're looking kind of ragged. this is a shame. you know? >> i know

our own jane wells is taking a deep dive on to the breakfast table this morning.g, jane. >> hey, simon. i'm going to throw a lot of numbers out at you. first, what's for breakfast? i cooked it myself so you may not be edible. we have steak, bacon, eggs. and i spoke to an egg producer and asked them a basic equation. how much corn to you feed an animal over its life span? let's start with the steak. a steer gets 3200 pounds of corn and 600 pounds of meat, 5.3 pounds of corn per 1 pound of beef. based on the usda's average retail price coming out today of $6.90 a steak, that's a little more than 10% of that steak is the cost of corn. all right. next, eggs. a hen gets 4600 pounds of corn a year, pro us dos 250 ends per year and i have 5 cents of corn, 3% of the retail price. corn gets you a two to one ratio. and my half pound of bacon, mmm, is slightly more than a pound of corn. finally, milk, cow on average delivers 5800 gallons of milk and work out to 2 cents per 8 ounce glass. you'll notice anything having to do with cattle has a lot higher percentage of corn in t

jane wells is live in iowa this morning at dupont's pioneer seed labs with the latest. >> reporter: carleing this year. this is what some of them are seeing. this is the first corn that has come from seed bred specifically to fight drought. it is new. what a year for its first real world test. it's called optimum aqua max by pioneer, owned by dupont. bred from only corn. they only made enough for 2% of all the acres planted in the u.s. this year. while seeds like this generally cost about twice as much as conventional seeds aqua max is promising a 7% better yield in drought. >> we find differences as far as when the male tassel drops pollen on to the female silks. that has to be a very closely timed process. aquamax hybrids tend to have good times as far as the pollen is going to fall when the silks are ready to receive that pollen. >> now, the global seed business has grown from $31 billion in 2005 to $46 billion in year, projected to top $58 billion by 2016 according to mind power solutions. competition is fierce. monsanto just won a billion dollar judgment against dupont over patent d

our jane wells is live in l.a. with that story, jane?mayor bloomberg wants to ban big sodas but if you ban them, you can't tax them. two california cities desperate for money want voters to approve taxing sugary drinks a penny an ounce, 7 1/2 cents for this all the way up to 64 cents, like a 50% tax. unless you buy diet soda, no tax. one city is richmond home to the disastrous chevron oil refinery fire, richmond has declared a fiscal emergency. the proposed tax would be charged to businesses, not consumers, so businesses would have to decide whether to pass the tax through or eat it or drink it in this case. the second city is struggling el mon monte, california, ranked ninth in the state in childhood obesity. of course, if businesses don't pass the tax through consumers have no incentive to stop drinking soda. >> people understand these types of taxes, and the impact that they can have on a community, not only will hopefully it will reduce the consumption of these products, but it also hopefully increase some revenue, that the city will

development who is supporting the business recovery with all the departments here today, as well as jean -- jane gong, we are working with businesses for their continued recovery. this is a highly coordinated effort between city departments and the city planning, building investigation, and the department of public health to ensure these businesses are up and running. >> thank you, supervisor olague, for being here as well. i know you're a big supporter of small businesses, too. we headed out a list this morning of every contact of every department, e-mail and cell phone numbers so they have a point of contact. people will have faith in the city after the disaster if they have a city that welcomes their business back in. welcomes their -- back in. we will do what we can to get the business owners and employees who are -- have lost their income. i would be glad to answer any questions they have. cause of the fire. we have our fire marshal who oversees investigation. we have a joint arson task force joined with members of the fire department and the police department and we can say with certainty

jane wells has the details. not encouraging, jane. >> no, it isn't. the second month in a row, the usda has slashed its corn outlook. a little lower than some predicted. john told me he's not that surprised. the corn crop is now expected to have, be coming at the lowest total in six years. 10.8 million bushels. the price raised to the high-end inching close to $9. what happens when prices go up? well, demand goes down. the usda is also cutting demand projections. 400 billion fewer going to ethanol and demand being met. 750 million fewer bushels going to feed livestock. that's mostly being cut from cattle feed. ranchers are already paying high prices for hay. range land has dried up and that means more cattle will be going to slaughter early. >> short-term, we're going to see a lot more beef on the market than we expected. which will drive prices down. not much. but it will drive them down. >> and that means next year, prices will spike because there will be less beef. now, here's the bigger story maybe this morning. soybeans up as the surprise by the

thank you, jane wells, from nevada, iowa.tinuing coverage of the drought throughout the day. on cnbc we'll have a special half hour dedicated to the situation and the drought's impact today at 1:30 p.m. your eyes glaze over. any flyover state conversation, if it's not on one of the two coasts, i lose you completely. you start doing stuff. >> this whole drought thing, i'm drinking fiji water and evian. it's very difficult for me. >> i know. >> what are those seeds you're eating? >> chia seeds. i've heard of chia pets but what do those do? >> it grows you. they're supposed to be be good for you. >> coming up, "fifty shades of gray" and the government's latest read on inflation. cpi numbers at 8:30 eastern. we'll break down the data. >> "squawk box" wants to hang out with you. join us right after the show on google plus for a special conversation with andrew and ben. add cnbc to your circles and post why are questions and comments. you can reach us on twitter. and be sure to use the hash tag squawk hangout to have your questions

. >>> i'm jane wells in nevada. your family started farming on this land 130 years ago. wanted to have a job that kept you up at night, do you have one this year? >> more so than in years past. farmers always realize is the weather is out of our control. we can't do anything about the weather. the things we can control is what we have to be concerned with and not let the weather break our optimism. >> one of the things you can control are your seeds. you use the latest ones. they cost a whole lot of money. are they worth it this year? >> i absolutely believe so. the technology we have in the field today with the conditions we went through this year is amazing what production we do have out there. we did lose some production. you can't completely protect against drought. i believe that technology we have in the field this year brought us through this drought better than we otherwise would have been. >> any concerns about safety? some people are concerned about these seeds. >> i've seen what -- we're able to produce more yield from a smaller resource base. that's good for

jane wells in live in l.a. with more on this.e. >> reporter: i'm still thinking about that amazon story. imagine you're the guy na ordered the weapon and got a tv instead. it's gotten so bad out here, guys, that the republic nominee for president or the presumed nominee is making fun of us. listen to this. >> if entrepreneurs and business people around the world and here at home think that at some point america's going to become like greece or like spain or italy or like california -- i'm just kidding about that one. if they think -- in some ways. >> reporter: you know, i've been saying that california's restructuring information one city at a time. here's the latest list. stockton went into bankruptcy and an bern dino and mammoth lakes are trying to. the big thing in a lot of cities right now is they declare fiscal emergencies they use as a way to raise taxes to try to get out of their problems. there's a half dozen up near san francisco. there's hercules and fairfield up there it. down south you have stanton, cu culver city. it

jane wells is live in glendale, california,'s state unemployment center.ecard fo us. >> reporter: the national unemployment number inched up a little bit in july to 8.3% from 8.2%. but look at these numbers. 44 states increased their jobless number from june to july, versus only 27 who increased it the month before. two states plus d.c. had a lower unemployment rate in july versus june. it was 11 in june versus may. four states had no change at all, versus 12 the month before. but only eight states have measurably higher unemployment rates than the national average. look at nevada which has the highest unemployment rate in the nation. its rate increased to 12% in july from 11.6% in june. you have wisconsin where paul ryan is from, its plummet rate is up to 7.3% from 7%. north carolina up 9.6% from 9.4%, higher than the national average. and iowa, the president spent much of his week there, up from 5.2%. here in california, let me show you tape inside this diop center here in glendale. california stayed the same. 10.7%. it gained about 25,000 non-farm payro

cnbc's jane wells joins us with details from the department of agriculture's crop report.ne. >> hi, andrew. this is an important report because it's the first real field sur vie. slightly bearish on wheat. corn and soybeans coming in lower than analysts predicted. usda predicting average yield per acre of 123 bushels the lowest in 13 years, a 23-point drop from last month. total production will be about 10.8 billion bushels, again, lower than expected, the lowest since 2006-2007, compare that 10.8 billion bushels, last year there were 12.3 billion bushels and earlier they thought we'd have nearly 15 bushels. ending stocks being cut, gosh, 40% to 650 million bushels but the price expected to go way up between $7.50 and $8.90 a bushel so not quite that $9 a bushel figure that goldman was predicting but we'll see how the summer plays out. soybeans slightly under 2.7 billion bushels, lower than what the street was expecting. another huge jump in price from $13 to $15 a bushel, now they're saying $15 to $17 a bushelsoybeans and slightly bearish on wheat. expecting a higher prod

wells to these particular participants. >> reporter: in fact, the same affidavit that implicates stockton repeatedly implicates jane's brotheraying brian wells knew the plot all along, was involved in the planning, was part of the band of criminal misfits trying to rob a bank. jean will never believe that. she believes her government is lying. >> they let an innocent man, my brother, die while in their custody, and they didn't even lift a finger to help him. this case is going to be looked at for years to come. and they don't want it known that they screwed up. brian never would have done this. >> jean is still claiming her brother's innocence and still says she won't rest until she can prove it. meantime, there's a new book about the case scheduled to be published later this year. one of its authors is a reporter for the local newspaper in erie, who's been following the case all these years. the other author, a now retired fbi agent, who was the lead investigator. >>> coming up, it's being called the new crack cocaine of crime, thieves stealing your tax refund before you even know it. how do they do it. >>> randi kaye's spe

well, tonight a reward of $10,000 is being offered for the capture of the plain jane bandit. after the mystery thieve struck seven different california banks in one month. while it may be unusual to have a woman topping l.a.'s most want the list, fbi data shows the number of female bank robbers has been on the rise in the past decade. best way to catch a thieve, could be all in the name. here's abc's david wright. >> reporter: they call her the plain jane bandit. one of l.a.'s most wanted. robbing more than half a dozen bank branches in the past three weeks. without even bothering to wear a disguise. >> her basic m.o., she'll approach the teller, usually she'll provide a demand note and ask for a specific amount. after that, the teller complies or sometimes they haven't. >> come on out, we don't want any trouble! >> reporter: ever since the untouchables took on mob barker and her gang, all the way back to bonnie and collide. >> i'm miss bonnie parker and this is mr. clyde barrow. >> reporter: female bank robbers have held a special spot in american crime lower. the image of p

jane packer. >> she was a well-known florist who passed away in november.as honored. >> thank you so much. beautiful flowers. 5:28. history in london. a look at michael phelps' path to become the most decorated olympian at all times. >> this is where michael phelps got his start. >> baltimore city is one step closer to opening a casino. >> you're watching wbal-tv 11. live, local, late-breaking. this is 11 news today at 5:00 a.m. >> good morning, everybody. welcome back to 11 news today. i'm stan stovall. >> and i'm mindy basara. thanks for joining us for 11 news today. >> it is august 1. temperatures are not going to change much. we will be in the upper 80's. the rain is missing baltimore to the south. heavy rain along the lower eastern shore counties. this afternoon, there could be a few scattered thunderstorms popping up. take an umbrella just in case. we will check the seven-day forecast going all the way into the weekend. >> we are tracking an accident on northbound 95 near powder mill road. all northbound lanes are closed. be extra careful because ther

jane austen actually has -- well, i quickly found eight in six novels, examples of guys who are kind of classically afraid of commit independent her novels and they range from people who are just hard-heardded players like henry crawford in lancefield park, through a guy hill willowby in sense and securities who is married to -- to somebody like -- at one point katherine wentworth looks like he is afraid of commitment and it has to do with jealousy. so i think it can help women a lot to look at a temp plate for, i'm telling with somebody who looked like he was interested in me but not anymore. what is the reason behind this? and -- but i can't obviously give you the advice in the book in 15 minutes. so i want to back up a little bit and talk about the case for jane austen as an alternative to the typical 21st century ways of thinking about dating and mating and courtship and all that kind of thing. when i first started writing the book, i wasn't thinking, jane austen is a genius at writing and at social criticism and at male and female psychology and relationship dynamics, and she ha

well, i'm stinghere... anthat is all i haveo saon the matter. sue? it's all right.i'm ing upst. goodork. anay, the reason jane ra is bauseum has offered her a cole of thousand as well oh, blimey. anshe sent a check r £0 to lucille. why n't u just ask your mumwhat? i mean, shs gog home tomorrow. kan: b's eaten all the othpte again! well, get some ouof the cupboard! ( footstepapprch ) yo move. oh, i sewhat you're up to. jet ghter noises ) ben, can youust- n, pase--ben. ben. please no strafing n the kitchen. weon'tant another friely fe incident with t winrack. listen, te.. maybe we should cept that money om yr mum. i an, e obviously wantus thave it. i n't ow, it just doesn'feelight. but you we comrtable enough acptinthose gifts fromy da yeah. a betamax video cord, a cider pres d a inese soldier's jawbon om the korean war. well, okay, but-- that still undeyourillow? ben: no, i sold it tibram. karen: mum at? is anusol toothpaste? !!! righ let see... don't be sly, n, it can't be checate. we've onlyust- dad: karen ren: stop bothering medadd finish your breakft! i've toldu finied my breakfast! i know it was u wh down