Drought Update – September 18, 2012

Although the rains from Hurricane Isaac brought relief to some, the portion of the lower 48 states still experiencing moderate to exceptional drought increased to 64%, up one percent from last week, according to the September 11 U.S. Drought Monitor.  In 42%of those states, the drought conditions are considered “severe, extreme or exceptional.” In addition, 54%of the country was in moderate drought or worse.

The majority of the country’s corn and soybean acres are affected, and while it’s too early to predict the full extent of agricultural damage, based on weather data, the losses will likely be greater than 2011 and could rival the flood losses of 1993. Some think losses could be as great as the 1988 drought, but it is still too soon to make that determination.