The Midwest drought has been alleviated a little from rains that hit the areas this past week, but unfortunately the rains came too little too late to save corn and soybean crops.
The Financial Times reports that Don Keeney, meteorologist for MDA EarthSat Weather, stated:
"There were some decent rains in central Illinois and west central Indiana yesterday, but it's too late for corn and too late for most of the bean crop."
Between 1.0 to 1.5 inches of rain fell in the central Midwest on Thursday and almost 2.5 inches fell in west central Indiana. The rains have not been enough to end the historic drought, and drier weather is expected to return. Keeney stated:
"It looks like a dry weekend and dry next week, there could be some rain in the last week of August."
"We have had quite a few climate events this year that will lead to very poor harvests, notably in the United States with corn or in Russia with soja. That will create price pressures similar to what we saw in 2007-2008."
"We need every metric tonne of wheat and grain the Australian farmers can produce. Anything that the Australian farmer can do to assure or boost his production should be profitable in the year ahead."
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