Oklahoma is wheat country. Iowa is corn country. What farmers in the two states have in common is weather-related disasters — consecutive years of cropland devastation.
Recent rains and cooler temperatures notwithstanding, farm belt states are suffering. The 2012 winter wheat harvest in Oklahoma came before the summer meltdown; corn farmers in Iowa aren’t so fortunate.
Their plight is well-known. What isn’t as obvious is that farmers had planted the largest corn crop since 1937, according to the National Crop Insurance Services (NCIS). Despite that, corn production is forecast to be the lowest since 2006. Average yields are forecast at 123.4 bushels per acre, the lowest since 1995. Soybeans have also been hit hard.