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(OPINION) ETH – The overall mood of the nation is becoming increasingly sour with each passing day. The pandemic seems like it is never going to end, the drama unfolding in Afghanistan is one of the greatest embarrassments in modern American history, and Joe Biden’s approval rating is sinking like a rock as it becomes clear that he is completely and utterly incompetent.
Unfortunately, average Americans will soon have even more to be stressed out about. As we head into the fall months, our store shelves are going to be getting emptier, shortages of products will become more widespread, and it looks like we could potentially have a very bad harvest season.
I realize that I packed a lot of really bad news into that paragraph, and some of you may be tempted to think that I am exaggerating. So let me take this one step at a time. First, I would like to talk about crop failures. According to the Department of Agriculture, 63 percent of all U.S. spring wheat is in “poor or very poor condition”.
Last year at this time, that number was sitting at just 6 percent… Extreme heat is baking most of the U.S. North Dakota, South Dakota, Minnesota, Iowa, and Nebraska all contain areas of extreme drought, according to data from the U.S. Drought Monitor.
North Dakota and Minnesota, in particular, are experiencing near-record lows in soil moisture, according to data from the National Oceanic and Atmospheric Administration. As a result, many crops planted this spring are wilting. Some 63% of the U.S. spring wheat crop is in poor or very poor condition, versus 6% at this time last year, according to Agriculture Department data.
So does this mean that agricultural production will be below expectations? Yes. In fact, the USDA is now projecting that levels of corn, wheat, and soybeans will all be “at their lowest level since 2013”… The poor weather has caused the USDA to scale back its expectations for U.S. crop production in 2021—which, in turn, is causing domestic inventories to dwindle. In the USDA’s latest monthly supply and demand report, the agency pegged […]
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