The historic 2012 drought has cut crop production dramatically,
with losses in corn especially heavy, according to the latest
survey of growers by Farm Futures Magazine. This year's corn
output could fall below 10 billion bushels, more than 30% less
than original estimates this spring from the U.S. Department of
Agriculture. Based on current crop conditions and a survey of
more than 1,800 farmers nationwide, Farm Futures estimates the
crop at just 9.86 billion bushels, with an average yield of
117.6 bushels per acre. "While farmers told us they planted a
little more corn than shown in USDA's June 30 acreage report,
abandonment will be much higher than the government predicted
due to effects of the drought," said Bryce Knorr, senior editor
for Farm Futures, who conducted the research. "With fields
already being plowed under or cut for silage, it appears
harvested acres could fall to just 84 million, almost 5 million
less than USDA forecast in June." Yields could decline further
too, Knorr said. The average yie