IOWA'S DROUGHT CONDITIONS HAVE FARMERS BUDGETING WATER USE
As Iowa heads toward its fourth year of drought, grain farmers prepping for planting next month are facing mandatory water restrictions and livestock producers are searching for supplies. The nation's top corn-producing state is seeing one of its driest periods going into a growing season, according to Thursday's update from U.S. Drought Monitor.
Such dry conditions will allow farmers to plant quickly this season, a bearish move for grain futures that have already been trending downward this year. The U.S. last year harvested a record corn crop despite drought conditions in some areas, and corn prices have hovered around the lowest in more than three years due to plentiful global supply. Iowa had enough sub-soil moisture that farmers were able to produce a bountiful yield last fall with timely rains, said Don Roose, president of Iowa-based U.S. Commodities.
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