The devastating U.S. drought continues to plague corn farms across the midwest and the plains. Crop yields are plunging and prices are soaring.However, it looks like it’ll get worse before it gets better, writes Alex Sosnowski, Expert Senior Meteorologist for AccuWeather.com.
“Despite the most acres of corn planted since the 1930s and high expectations this spring by the United States Department of Agriculture (USDA) for this year’s crop, the 2012 yield is likely to be even lower than current official government forecasts,” he writes.
“Ongoing heat and dry weather in could terminate more of the corn in other growing areas of the Midwest and Plains in the coming weeks. Lower yields than expected could continue to translate to higher prices per bushel.”
Even if rain were to return, it may pointless. “It is too late for the corn crop in the southern areas,” he writes.
Last week, the USDA slashed its corn crop yield forecast to 146 bushels per acre, down from 166 bushels a month earlier.
“AccuWeather.com agricultural meteorologists expect this figure is likely to go lower and are projecting the yield to be around 138 bushels per acre,” wrote Sosnowski.
This is a drop of 5.5 per cent.