Drought is a growing concern in the Corn Belt and remains a serious problem elsewhere, including Texas, Russia, Mexico and Australia.
Though the Upper Midwest is no stranger to drought, most of the area is doing pretty well on moisture this summer, at least so far.
When weather-related problems in some parts of the world cut into production and push up prices, farmers in areas that enjoy a good harvest make more money.
A basic reality of agriculture is that the other guy’s pain is often my gain. It’s not something to be proud of or ashamed of. It’s just the way it is.
The way things are shaping up so far, farmers in the Upper Midwest could be the ones with the gain. A lot of years they’ve been the ones with the pain.