The USDA cut its estimate of Argentina's corn crop by 6% to 23.5 million metric tons.
Right now, half of the corn crop in America is in poor or very poor condition.
WHITEHOUSE: Weekly Address All-Hands-On-Deck Response to the Drought
On Tuesday, the U.S. government said close to 10.0% of Iowa's corn crop is water-logged.
The crop is harvested around the same time as the US corn crop, between August and October.
The corn crop in my area is effectively destroyed, this year, and the economic cost will be enormous.
FORBES: On Romney's 'Rising Oceans', Time To Get A Bigger Boat
If the corn crop sees normal weather, then yields can still be good.
FORBES: 'QE3' Would Be The 'Most Bullish Factor' For Commodities -- Panel
This year ethanol production will consume a whopping 42 % of the corn crop, says the US Department of Agriculture.
BBC: Smaller, fewer, thinner - the future for American beef?
In pursuit of energy independence, the United States is diverting about a quarter of the national corn crop to produce ethanol fuel.
Roughly 40% of the U.S corn crop was diverted to the production of ethanol for gasoline in 2010, up from 20% in 2006.
FORBES: Ethanol Subsidies: Dumping Corn In The Ocean Would Be A Better Idea
On Oct. 8, when the Agriculture Department cut its forecast for the US corn crop, shares of Tyson, the chicken producer, dropped 6%.
Another long-term factor is the biofuels industry, which consumes roughly a third of the U.S. corn crop buoying prices and has government support behind it.
Imagine if the U.S. Congress were to mandate subsidies for the dumping of 40% of the U.S. corn crop into the ocean every year.
FORBES: Ethanol Subsidies: Dumping Corn In The Ocean Would Be A Better Idea
Nearly half of America's corn crop was also rated very poor to poor, while 57% of its pastures and range land were similarly graded.
This year, U.S. farmers planted the largest corn crop since 1937.
FORBES: Deere Plows Ahead To Record Profits, Higher Earnings Forecast
Rep. Virginia Foxx, a North Carolina Republican, says giving up 20 percent of America's corn crop to make ethanol has unintended consequences, like spiking the cost of livestock feed.
Jeff Scates, a farmer in Southern Illinois, said about 75% of his family's farm was underwater last spring, and he didn't finish planting his corn crop until early June.
In 2007, 25% of the U.S. corn crop was diverted to produce ethanol, according to the U.S. Department of Agriculture, which projects that 30 to 35% will be diverted in 2008.
In fact, it's not far-fetched to imagine a perfect storm in which low-priced oil coincides with climbing natural gas prices just as a drought hits the Midwest, ravaging the corn crop.
Mild weather is leading to the expectation of bumper harvests in the northern hemisphere, while it seems as if less of the American corn crop will be used to produce ethanol.
Next-generation GM crops could boost food grown, cut pesticide use, make crops more resistant to droughts like the one that crushed the US corn crop last year, even create crops that fertilize themselves from the air.
FORBES: Saving the World With the Power of Ideas: A Conversation With Ramez Naam
In the last six months, we have witnessed Superstorm Sandy flooding New York City, New Jersey and surrounding areas, a massive Midwest drought impacting 40% of the US corn crop, and unprecedented air pollution from burning fossil fuels that forced Chinese authorities to tell Beijing residents to stay in their homes.
FORBES: What does Climate Change Have to Do With Health Care?
His once-impressive 10 point U.S. Senate race polling lead has vanished placing him into a deep hole against democratic incumbent Claire McCaskill nearly every member of the Republican party has asked him to exit the race, and most of his funding has dried up like the 2012 Midwestern corn crop.
FORBES: Anti-Akin Sentiment Inspires Illegitimate Rape Whistle
Still, the group this week joined other animal producers in calling for a reduction in corn ethanol production mandates, saying pricing and availability of corn for feed is threatened by the combination of a small corn crop this year and the government mandate, which will use about four of every 10 bushels of corn.
To meet the 2022 mandate of 35 billion gallons of biofuels using corn-based ethanol, crop land dedicated to corn will have to increase from 88 million acres to 233 million acres.
FORBES: Ethanol Isn't Worth Costlier Corn Flakes And Tortillas
Blame the drought conditions that blazed through the corn and soybean crop this year.
FORBES: The Coming Bacon Famine And The Glory Of Speculation In Food
About 90% of the corn acreage is backed by a generously subsidized federal insurance program, described by Steven Colbert as "Obamacare for the corn, " so crop farmers will be just fine.
CNN: Extreme heat and droughts -- a recipe for world food woes
The results of the experiments, reported in the journal Science, show that the modified plant can thrive even when salt levels are twice the amount that would kill a normal crop of corn.
Five years ago he uprooted his tomato, cabbage and onion plants to make room for baby corn seedlings - a crop he had never seen and equally would not eat - but with an export market secured, and his income guaranteed, he felt he had everything to gain.
BBC: NEWS | Business | African trade fears carbon footprint backlash
Crop plants like corn and tobacco can now be programmed with gene-splicing techniques to produce precious pharmaceuticals.
应用推荐