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USDA predicts record low corn harvest, spike in prices
An Illinois farmer looks over an ear of corn picked from his fields, which have been severely damaged by drought.
An Illinois farmer looks over an ear of corn picked from his fields, which have been severely damaged by drought.
Scott Olson/Getty Images
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s a drought gripping the U.S. continues to worsen, the Department of Agriculture is projecting a massive slump in the corn harvest, and a subsequent surge in corn prices. The USDA predicts that the corn harvest will decrease by 2.2 billion bushels — or 22.6 bushels per acre. That rate puts the 2012-2013 yield on track to be the worst since the 1995-1996 harvest.

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