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Published August 10, 2012, 09:55 PM

Drought hard on corn

(WDAY TV) -- The Ag Department has slashed expectations for corn and soybean production for the second month in a row, thanks to the worst drought in decades.

By: WDAY Staff Reports, WDAY

(WDAY TV) -- The Ag Department has slashed expectations for corn and soybean production for the second month in a row, thanks to the worst drought in decades.

Corn farmers had expected a record harvest this year when they planted nearly 97 million acres - the most since 1937. But thanks to the unrelenting drought, corn will have its lowest yield in 17 years. And with as much as 40 percent of the corn going to make ethanol, the poor yield could drive up the prices of both meat and gasoline.

Jay Carney, White House Press Secretary, says, "There is no question that the drought is very serious and the president is committed to ensuring that his administration is taking every step possible to help farmers and ranchers."

The ag secretary says despite the bad forecast , we shouldn't see immediate increases in food prices.

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