Drought Implications The drought has brought with it a variety of explanations and proposed solutions. The Great Drought of 2012 A drought is loosely defined as a lengthy period of sub-normal rainfall usually accompanied by above-normal temperatures. By that definition, the United States is in the grips of a searing drought. At this juncture we can say that the severity of 2012 drought is nearing that of other major droughts, and we can predict with confidence that its damage will be very costly. Very Tight Soybean Supplies The 2012 calendar year has seen an unprecedented decline in global soybean production as a result of droughts in South America, the U.S. and potentially one in India. As a result, global demand will have to be ratio...