Extreme drought has expanded in key farm states like Iowa, pictured above, sending corn prices soaring. (Courtesy Creative Commons/ Wx Mom)

"No significant shift from the pattern short term, there will be a few light showers but no soaking rains," said Kyle Tapley, meteorologist for MDA EarthSat Weather told Reuters.

Iowa, a major corn and soybean-producing state, is of particular concern. Extreme drought rose from 30 to 69 percent of the state just last week. Corn futures on the Chicago Board of Trade hit record highs on Thursday. Corn and soybean inventories could hit their lowest levels in 17 and 32 years, respectively.

Missouri and Illinois suffered from expanding drought, as well. The USDA will release its August crop report on Friday.

Read the story at Reuters.

Follow Neon Tommy's coverage of the historic drought.

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