Many farmers aren’t taking chances with corn seed, despite assurances from seed companies that there are enough supplies after this summer's devastating drought.
Much of the Midwestern U.S. is still suffering from one of the worst droughts in decades. Serious damage has been inflicted upon the corn and soybean crops, producing record-high prices for corn and soybean futures at the Chicago Board of Trade.
Forecasters say there’s a heat dome over the Corn Belt, and soybean prices are nearing record totals. Food inflation fears and fuel worries continue. The drought is affecting 55% of the land mass in the lower 48 states.