NOAA: Current U.S. drought is the largest since 1956

Drought corn
Corn is distressed and yellowing in a drought near Grand Island, Neb., Saturday, July 14, 2012.
AP Photo/Nati Harnik

The drought that's currently covering much of the US is the largest since 1956, according to a new report from the National Oceanic and Atmospheric Administration. More than half of the nation is experiencing moderate to extreme drought right now.

With no relief in sight, what does this mean and can anything be done to help?