Ukraine to Yellowstone, in Pakistan and Kazakhstan, the earth is parched
Drought in the Black Sea region has led to decrease in wheat, raised export prices
Late monsoon season in India and Pakistan has put plants at risk
Hurricane Isaac may have inundated the parishes of Louisiana, but for thousands of American farmers, it was a blessing, a reprieve from the most torrid summer on record.
In much of North America, July was the hottest month since such a record was first taken. Crop yields have fallen sharply; thousands of livestock have been lost.
The Midwest has suffered its worst drought in 56 years, and the International Grains Council has cut its forecast for the U.S. maize harvest by 25 million tons.
The relief from last week’s rain may help planting conditions for winter wheat, but it’s come too late to make much difference to summer crops. And it didn’t even reach Iowa and Nebraska; 71% of Nebraska is now in “exceptional drought,” the highest level on the scale.
On Thursday, the Federal Reserve of St. Louis reported that drought had ravaged farmers’ income expectations in seven states, including Illinois and Missouri.