Challenges in drought monitoring hinder social development. In this study, a robust drought monitoring framework composed of ten indicators was established based on the standard precipitation actual evapotranspiration (SPAEI) index calculated using the maximum entropy production (MEP) model. Additionally, the relationship between meteorological drought and agricultural development was analyzed. The results indicated that the seasonal SPAEI performed better than the standardized precipitation evapotranspiration index (SPEI) in terms of drought area, vegetation drought, and drought identification in Central China. The annual drought duration was between 3.4 and 4.5 months, and the annual drought frequency ranged from 1.1 to 1.9 times per year. The main drought pattern was divided into persistent light drought and short-term severe drought, with the latter dominating crop yields in Central China. Although persistent light drought contributes more to drought, short-term severe drought has a greater impact on crop yields. Thoroughly investigating regional drought patterns and assessing their impacts on agriculture will contribute to a better understanding of drought characteristics and provide valuable guidance for regional agricultural water resource allocation and management.