USDA Crop Tour Warns: Megadrought Impacting Corn And Soybean Yields

“Crop conditions for soybeans and corn have worsened in the latest crop tour findings in the US which confirmed hot and dry weather this summer has taken a toll on yields. According to the U.S.Department of Agriculture’s (USDA) latest crop tour, soybeans in good to excellent condition dropped three percentage points from the previous week to 57%. The figure missed analyst estimates of 60%. USDA found that corn in the same condition fell two percentage points to 62%, missing expectations of 64%.”

Published by markskidmore

Mark Skidmore is Professor of Economics at Michigan State University where he holds the Morris Chair in State and Local Government Finance and Policy. His research focuses on topics in public finance, regional economics, and the economics of natural disasters. Mark created the Lighthouse Economics website and blog to share economic research and information relevant for navigating tumultuous times.

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