The latest U.S. Drought Monitor released Thursday shows 58 percent of the nation experiencing drought, with 38 percent in a severe or worse drought classification.
Hot and dry weather continued across the West in the last week, expanding drought conditions. The excess heat increased evaporative demand, drying out soils and vegetation, and straining water resources.
As commodity markets swing wildly based on weather, the Midwest and much of the Corn Belt will see more rain in the week ahead. Rainfall maps show relief coming for Iowa, North and South Dakota and Nebraska.
A daily newsletter from Bower Trading suggests permanent losses have already occurred in some of the drier areas in the northwest and a full restoration of yield potential is not possible, but the better weather conditions expected during the next week should allow for a boost in yields in many areas. Rainfall is also expected in many areas of the Corn Belt not in drought conditions.