NPR : News

Filed Under:

Despite Lingering Drought, USDA Predicts A Flood Of Grain

Economists at the U.S. Department of Agriculture, gazing into their crystal ball, see American farmers planting and harvesting huge amounts of corn, soybeans, and wheat this year. They're predicting a record harvest of corn: 14 billion bushels, up nearly 40 percent over last year's drought-crippled level.

With supply up, prices will fall. The USDA thinks that the price of the average bushel of corn could fall by a third. And soybean production and price are expected to follow a similar track.

Of course, these predictions assume good weather. USDA Chief Economist Joseph Glauber admits that he predicted the same thing last year at this time, but a drought in the Midwest turned anticipated glut into scarcity. Grain prices went up, putting a major squeeze on farmers who raise pigs, chickens, and cattle.

This week, the weather appeared to be cooperating. As Glauber and his colleagues laid out their forecast in a Washington-area hotel, a storm was dumping more than a foot of snow on some of the places that needs it most, including Nebraska, Kansas, and South Dakota.

One storm won't bring things completely back to normal, though. Soil scientist Randall Miles, from the University of Missouri, says it will take at least two years of good rains to replenish moisture in the soil of many hard-hit areas, and crop yields this year still may suffer.

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

NPR

In 'Porcelain,' Moby Searches For Validation And Finds Unlikely Success

The electronic musician's new memoir traces his journey from Connecticut suburbs to New York City raves. It's a tale of dance clubs, DJs and Manhattan in the 1990s full of self-deprecating humor.
NPR

To Survive The Bust Cycle, Farmers Go Back To Business-School Basics

Farming is entering its third year on the bust side of the cycle. Major crop prices are low while expenses like seed, fertilizer and land remain high. That means getting creative to succeed.
WAMU 88.5

Power Plant Fight In Prince George's County

A predominantly African American community in rural Prince George's County recently filed a federal civil rights complaint in response to plans to build a third power plant in one town, and fifth in the region.

NPR

Reports Peg Tech Billionaire As Funder Of Hulk Hogan's Case Against Gawker

The New York Times says entrepreneur Peter Thiel confirms he has been bankrolling the ex-wrestler's lawsuit. Gawker is appealing a jury award to Hogan of $140 million over publication of a sex tape.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.