How will the drought impact the American economy?

Midwest Drought
Corn plants struggle to survive in a drought-stricken farm field on July 18, 2012 near Vincennes, Indiana. The corn and soybean belt in the middle of the nation is experiencing one of the worst droughts in more than five decades.
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Some experts compare this year's drought to that of the Dust Bowl. Consumers are seeing rising food prices, but what will the drought do to other economies in the United States? Why is the drought one of the worst the U.S. has experienced?