Looks like up to 4% reduction of corn in Iowa, up to 3% of soybeans in Illinois, worst case.
But if other states have great crop yields (plenty of rain this year), the net result could be increased production.
Ethenol and bio-diesel help drive up demand.
So crop prices are high, probably will stay high, imHo.
That was my first thought; what about the other states? Even here in the “Gay State”, I’ve never seen so many formerly fallow fields full of corn. Ditto up in NH and Maine, and what about all of the other crops?