Nearly 35% of the state’s corn has been destroyed by the storm’s straight-line winds. A rare inland storm known as a derecho passed through the state of Iowa on 10 August, leaving widespread damage in its wake.

Damage estimates from a rare wind storm that slammed Iowa and some other parts of the Midwest in August are growing, with the total now at $7.5 billion, according to a new report.

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In this Aug. 20, 2020 file photo, a cornfield damaged in the derecho earlier this month is seen on the Rod Pierce farm near Woodward, Iowa. Press enter to select and open the results on a new page. “I don’t know where to start or what to do,” he said. This is it,” said Bruce. Digital upends old models. READ MORE ON FOX BUSINESS BY CLICKING HERE. Farmers unable to have successful harvest after Midwest storm damages, National Oceanic and Atmospheric Administration. The most expensive disaster so far this year was Hurricane Laura, which caused $14 billion in damage when it hit the Gulf Coast in August, according to the NOAA research. We strive to provide individuals with disabilities equal access to our website. The derecho has destroyed the majority of their corn crop and their grain bin. Please email us at: McKinsey Insights - Get our latest thinking on your iPhone, iPad, or Android device. 3 things that created a 'perfect storm' for NYC's decline, Oil prices sink as Europe reintroduces coronavirus lockdowns. Flip the odds. “If you were looking to exert the most damage on corn crops when it comes to thunderstorms and heavy winds, when the derecho rolled through in August, it was the perfect time to do it,” Curtis said. Corn plants lie on the ground following a derecho storm that moved across the Midwest with winds recorded near 100 mph in Iowa and Illinois. While none of the scenarios spell total loss for Iowa, the derecho will clearly have a meaningful financial impact on farmers and the economy. The storm, known as a derecho, generated winds of up to 140 mph that flattened millions of acres of crops. Alvin Pavlis has been farming his land for nearly 50 years. Mutual Fund and ETF data provided by Refinitiv Lipper. Featured. Personal loan vs. credit card: Which option is right for you? Millions of dollars in damage had been dealt not just to the crops, but to trailers and silos for grain transportation and storage.

The derecho also knocked out power to half a million Iowa residents and damaged homes, trees and power lines. Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. There are challenges to doing so given the extensive acreage involved, but satellite-based analytics are offering new ways to rapidly unlock these insights. We use cookies essential for this site to function well. Damage intensity varies among fields; satellite analysis allows us to segment the fields into two categories: The full impact on crop yield from the derecho is difficult to predict and depends on several factors, including: Despite the many questions that will define yield impact, we have developed three potential scenarios (Exhibit 3) that vary by the extent of production loss on damaged fields: 25 percent, 50 percent, and 75 percent. GET FOX BUSINESS ON THE GO BY CLICKING HERE. All estimates were generated in collaboration with Descartes Labs, a geospatial analytics platform provider, through analysis of satellite imagery

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