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."
Tropical Depression Two has formed in the Atlantic and could become the next tropical storm of the season by midweek.
Warm and humid air in place over much of the Midwest and Northeast at midweek will contribute to the risk of drenching, gusty and locally severe thunderstorms on Wednesday.
After temperatures briefly climb to typical midsummer levels, another cooldown will roll into the Midwest and expand to the East for the last part of July.
Severe storms will fire up Tuesday afternoon and evening, threatening outdoor activities and travel for many.
Powerful winds, heavy rainfall and dangerous mudslides will threaten Taiwan on Wednesday as Matmo moves across the island.
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Barrow, Alaska (1989)
Thunder reported for the first time since July 1982 (no rain fell with this so-called storm) July 1989 did go on to become the wettest July on record with more than 3 inches of rain.
Thompson, Manitoba (1990)
97 degrees -- record heat wave.
Bom Jesus, Brazil (1990)
About 1" of snow accumulated at elevation of 3,000; this is rare.