Minnesota soybeans hurt by drought's grip

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Drought conditions held steady across the state this week, taking a toll on Minnesota's soybean harvest expectations.

The U.S. Department of Agriculture says the lack of rain cut the soybean yield by 2 bushels an acre, from 41 to 39 bushels, the Pioneer Press reports.

The decrease is a roughly $175 million loss to the state's agricultural economy, MPR said.

Overall soybean production in the state is expected to be 259,000 bushels, down 14 percent from last year.

More than half of Minnesota is in a moderate drought, according to data from the U.S. Drought Monitor released Tuesday.

Dry conditions aren't expected to impact corn. The newspaper says the statewide corn yield remains unchanged this month.

Nationwide, the overall expected record corn harvest and third-largest soybean crop are on track, since areas that aren't seeing dry conditions will produce enough to make up for the driest regions, the Associated Press said.

Crop prices are also expected to creep up. But, as the Mankato Free Press reports, the local price for corn and soybeans this month at $2 per bushel is still lower than last year at this time during a more severe drought.

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