Despite receiving record precipitation over a broad swath of territory, more than 60% of the United States is still suffering from a historic and global warming-induced drought. Sandy provided some mitigation for drought conditions in the Eastern and Mid-Western sections of the US. However, drought conditions were largely unchanged over broad swaths of the Western US and Heartland.
As a result, the US is now suffering its worst winter wheat harvest conditions in at least 27 years. Monitoring began in 1985, so it is impossible to know how far back one would have to go to find conditions similar to what is being experienced now. Just 40 percent of the current wheat crop is rated good to excellent. Fully 15 percent is rated poor to very poor.
“The low crop ratings will increase concern about the yield potential of this year’s crop,”Shawn McCambridge, the senior grain analyst for Jefferies Bache LLC in Chicago, said in a telephone interview to Bloomberg. “The weather doesn’t look promising for much improvement and may increase overseas demand for supplies left from last year’s U.S. harvest.”
The US corn crop is down 13 percent from last year. The US soybean crop is also down, showing a 7 percent loss from the year prior. Some of the remaining crops may have been damaged by Sandy as it raged over a large section of the Eastern US earlier this week.
Wheat losses similar to those suffered by US corn and soybean crops pose a risk for pushing the world’s food situation into a state of crisis. Throughout October, the UN has been warning of the potential for a spreading food crisis should any more ‘unforeseen events’ materialize.