The percent of contiguous U.S. land area experiencing exceptional drought in July reached the highest level in the history of the U.S. Drought Monitor, according to the National Drought Mitigation Center at the University of Nebraska-Lincoln.
Nearly 20% of the contiguous United States is classified as under either extreme or exceptional drought. At the same time, about 12% of the country fell into the "exceptional" classification.
The economic consequences of the extensive and extreme drought conditions are only beginning to emerge. The extreme dry, hot conditions in the nation's mid-section are driving up corn and soybean prices to record or near-record levels, according to reports in AGProfessional.
Plan to spend more on groceries later this year.
