Drought Impacts on Agriculture
The economic impact of a drought on the agriculture sector is hard to pin down. Even scholarly articles and government think tanks can pinpoint how much economic impact it will have or how far-reaching it will be. Coming off of record-high corn and soybean prices in 2020/2021, farmers in the Midwest face uncertainty as July and August, two of the most crucial months in determining drought effects for the Midwest's largest crops, continue to leave us in drought conditions. The University of Nebraska Lincoln has created an interactive map regarding the drought for those so inclined to monitor the severity of impacts in their areas. https://droughtmonitor.unl.edu/