Heat, Drought, Wildfires, And The Hottest Temperature On Earth Since 1913 All In One Spot
Free and available to everyone, the United States Drought Monitor is released every Thursday at 8:30 a.m. Eastern Time. Traders, Government Officials, Meteorologists, Climatologists, Academics, Data Nerds and countless others scour the weekly data looking for clues to the future. It’s useful, fun, and can be profitable too.
Anyone interested in the weather, in what regions and commodities are affected by extreme heat and dryness, in potentially profiting from this knowledge, or in just getting some honest, factual information that’s all verified and true, should head to the U.S. Drought Monitor website each Thursday.
Hosted by the University of Nebraska-Lincoln, the website is packed full of informational content gathered by government and quasi-governmental agencies. Its information is used by a variety of government agencies and officials to declare droughts and disaster emergencies, and to report and predict heat, drought, and fire conditions. Traders use the data to monitor conditions on the ground where their commodity of choice is produced.
This week’s report, released today August 20, 2020 with data collected as of Tuesday August 18, 2020 had three things of particular interest.
First, and probably of most interest to just about everyone, is the reporting of a 130 degree Fahrenheit temperature reading last week at the Furnace Creek Visitor’s center in Death Valley. Given the name of the place, one would expect extreme temperatures as the norm, but the US Drought Monitor informs the reader that if confirmed, it would be the highest temperature recorded on the planet since 1913.
Second, and to the surprise of no one reading headlines or watching the news of late, the report confirms that extreme heat and dryness have triggered wildfires across the West and Southwest. Unfortunately, residents of those areas are expected to face more of the same, with deteriorating conditions and little near-term relief in site. Of note for the Midwest, drought conditions have affected the supply of wild berries in Northern Minnesota, which has bears heading into rural areas looking for food.
Third, and here is the “follow the money” angle, the report confirms dryness and drought are expanding in several important agricultural areas, affecting corn and soybean production in parts of Iowa, Minnesota, Nebraska, Wisconsin, and Texas, with further potential negative yield potential for cotton and sorghum production in Texas. Traders and others keep a close eye on the drought monitor this time of year to see how much the supply of vital agricultural crops might be affected by heat and dryness across the nation.
Ultimately, the information found in the US Drought Monitor could help traders, end users, and investors in a variety of different commodities with trading, pricing and inventory decisions on an ongoing basis. It is a true resource that is little known and underutilized by much of the general public.
The changing climate matters to farmers, traders, and consumers of all types of agricultural goods; all large scale agricultural production is ultimately dependent on the weather. The US Drought Monitor is the most reliable source for timely data and information concerning the production of many of the world’s most vital commodities.