The drought and heat wave that have plagued the Midwest to central Plains have resulted in smaller corn yields and rising prices for the consumer.
But there may be a way to combat the shortage and put a little bit of money back into the pockets of consumers, one expert says.
According to Dr. James Dunn, professor of Agricultural Economics at Penn State University, decreasing the amount of ethanol in our fuel could mitigate the shortages and bring down the cost of corn and corn-dependent products.
On average, the U.S. uses 40 percent of its corn crop for ethanol.
"We have a mandate to have 10% ethanol in our gasoline. To a certain extent, that usage is optional," said Penn State University Professor of agricultural Economics, Jim Dunn.
"It's mandatory because of the law but it's possible that the government, if they chose to do so, could suspend that or lower the percentage to 7%, and that probably would relieve the pressure dramatically, should they do that," Dunn said.
Though the government has never before altered this mandate, the Congress and Senate are very well aware of the looming crisis, Dunn said.
The drought has significantly damaged the corn and soybean crop across the United States, with 88 percent of the nation now experiencing some level of drought and more than 45 percent facing moderate to severe conditions.
This past month was the most widespread, severe drought for the U.S. in July since the Dust Bowl days of the 1930s.
With experts speculating the continued increase in the cost of meat, dairy, animal feed and other corn-dependent products, a greater surplus of corn through the lessened usage of ethanol would help to lower prices across the board.
While a decrease in the percentage of ethanol added into fuel would mean an increase in the amount of gasoline, it would not make a noticeable difference in the cost of fuel.
"The day-to-day variation is such that we wouldn't really notice that kind of a change," Dunn said.
"We'll know better when the new crop report comes out, but at this point, it looks like a significant portion of [farmers] are in really pretty bad shape."
Severe thunderstorms with the risk of a few tornadoes will advance eastward across the northern Plains and Upper Midwest into Friday.
A dangerous outbreak of severe storms will strike the northern High Plains and Canadian Prairies on Wednesday.
Join us on Thursday for AccuWeather LIVE as we will discuss the debate of climate change and hurricane frequency and the top five things you need to know about summer weather.
A hot and humid weekend is shaping up for Chicagoland just in time for the official start of summer, while severe thunderstorms fire nearby to the north.
Tropical Storm Barry formed over the southwestern Gulf of Mexico and may hit the Mexico state of Veracruz Thursday.
A tornado touched down at Denver International Airport as a severe weather system moved through the area.
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19th-20th) Hail as large as grapefruits battered more than 50 counties, causing crop and property damage totalling $9.2 million.
3-4" rains common across the state.
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Hailstorm in Hunan Province killed 20 people and injured thousands of others.