Will Midwest Rains Pressure Food Prices?

In the CBS report above, University of Missouri Ag Economist Ben Brown estimates “we could see a three million acre reduction in total corn and soybeans within Minnesota, South Dakota, and Iowa”.
Food prices can adjust as long as international producers can take up the slack, but recent headlines show farmers are under pressure on every continent.
Farmers interviewed above spoke about inadequacy of farm insurance payments – a reminder that insurance companies are feeling climate in areas well beyond home insurance.

NASA Earth Observatory:

Over a foot of rain fell on parts of South Dakota and Iowa in late June 2024, sending water over the banks of rivers. Overflowing rivers destroyed homes and bridges and inundated farm fields in the Midwestern states.

The Big Sioux River, which runs along the Iowa-South Dakota border, rose to record heights after back-to-back days of heavy rainfall. On June 23, the level of the river in Sioux City, Iowa, reached almost 45 feet—7 feet higher than the previous record. That evening, a steel railroad bridge connecting North Sioux City, South Dakota, with Sioux City, Iowa, collapsed into the Big Sioux River. 

The images above, acquired by the OLI (Operational Land Imager) on Landsat 8 and the OLI-2 (Operational Land Imager-2) on Landsat 9, show Sioux City on June 9 (left) and June 24 (right). Water had overtopped the banks of the Big Sioux River in the June 24 image, inundating adjacent farmland. The images are false-color to emphasize the presence of water, which appears dark blue. The image below shows a wider view of southeastern South Dakota and northwestern Iowa on June 24.

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