U.S. Drought Persisting Seen as Threat to Corn, Soybeans
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The drought that ravaged U.S. corn and soybean crops and spurred record prices may persist, threatening a recovery in production this year that’s needed to bolster global inventories, according to forecasters.
“Unless there’s a sudden change to very wet conditions, it sure looks like drought is going to be a feature going into the planting season, spring at least,” Bryce Anderson, an agricultural meteorologist at DTN, said in a phone interview from Omaha, Nebraska yesterday. DTN provides weather information on agricultural markets. “In the 1930s, there was a period of four or five years when drought was a feature,” Anderson said.