Farm fields all across the Midwest are well behind schedule due to rain and freezing temperatures. Grain prices are increasing because of the poor harvest conditions. Analysts noted that the pace of corn harvest is the slowest since the USDA started keeping records in 1985, according to in the Wall Street Journal.

Earlier this growing season, corn and soybeans were ahead of schedule, despite a late planting, and there was a possibility of a bumper crop for 2009. With the harsh weather this fall, yields will almost certainly be lower. 120 to 150 million bushels of corn may have been lost so far, according to Sterling Smith of Country Hedging.

Food & grain affects

Since the beginning of October, corn and soybean prices have increase 12% and 11% respectively. Prices have continually increased, but Justin Kelly of eHedger noted, “Once harvest picks up, and it will, we will see [selling] pressure pick up, and this could create a quick break.”

“Everyone’s short of corn,” ISU Extension Field Agronomist Paul Kassel explained in a recent article from the Emmetsburg Reporter, “because we had a big crop last year, but we used it all with ethanol, feed use, exports and so forth. And then, because we’re being pushed so far behind on harvest this fall, ... some of the elevators are giving incentives of higher grain prices or they’re discounting part of the drying costs.”

The harvest struggle continues outside of corn and soybeans. 90% of all pumpkins used for canned pie filling are produced in Illinois, which has also had a very wet harvest. Stores are experiencing a shortage of pumpkin pie filling because of the rains. Also, the pecan harvest in Georgia will be over 18% lower than last year’s because of wet conditions, forecasted by the USDA.

Long term affects

Besides a difficult, time consuming harvest, fields are going to be affected by compaction for years to come. Compaction occurs in soil when heavy objects compress areas of soil. Compaction is very common in wet conditions because of slipping and stuck equipment. Compaction can last over 8 years in a field, and cut yields by 40% according to a study done by Ohio State.