One costly drought ...

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Area farmers and those across the nation are all too familiar with -- and no doubt tired of -- the widespread drought conditions.

Fortunately, many farmers across the country are covered by crop insurance to compensate for the considerable losses that are being reported from Nebraska to Ohio. However, crop insurance comes at a cost, and not all farmers have insured themselves against such losses.

The drought's impact has come down most heavily on corn which has not received adequate moisture to develop properly. To get an idea of corn's problems, The Wall Street Journal provided an assessment this week of the crop in the top 10 corn-producing states.

It noted that about half of Ohio's 3.9 million acres is rated as "very poor" or "poor" while more than half of Indiana's 6.2 million acres are in the same category. The situation is even more devastating in Illinois, according to the Journal, with nearly 70 percent of the corn crop rated "very poor" or "poor".

Because corn is such an important animal feed, consumers can expect to see food prices rise -- perhaps by 3-4 percent. These additional expenses will come at a bad time for many Americans.

So there may be a lot of reasons to remember the drought of 2012, the end of which many hope for sooner rather than later, even though that would not undo much of the damage.

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