A week or so ago we wrote about how farmers will not suffer significant financial losses because of the drought. In fact, it is extremely likely that net farm income will stay very high in 2012/13 despite the drought because of the great crop insurance program. There are, of course, many who will definitely be hurt by the drought, among them:

The business of grain origination in the U.S. has been extremely profitable for several consecutive years. Big crops and high prices have meant big volumes and very wide handling margins. The same has been true on the export side. Hundreds of millions of dollars have or are being spent to build or upgrade facilities in the interior and at export locations. Very small corn and soybean crops also w...