Hurt said projected soybean yields are down 12 percent - from 49 bushels projected per acre at the start of the season to 42.5 bushels per acre now.
"Those yield prospects will drop further given the current weather forecast," he said.
The potentially good news for growers is that the commodities markets have taken notice of the reduced yields, with corn futures now trading 15 percent higher than they were early in the season. Soybean futures have made a smaller jump, up 7 percent.
But while higher prices could be a revenue balance for growers who have a crop, they do little to help those who lose an entire crop. They also have the potential to strain the budgets of livestock producers who rely on grain to feed their herds.
Purdue Extension has compiled resources for both grain and livestock producers weathering the drought. Those can be found on the Corny News Network: Crops and Drought page at http://www.kingcorn.org/cafe/drought. Local weather and drought updates also are available through the Indiana State Climate Office at Purdue via http://iclimate.org/. Both pages will be updated frequently as new information and resources become available.