At this point in the growing season the damage is irreversible.
After trading as low as $7.8925 earlier today the futures are changing hands at $8.0305 in electronic trade.
USDA: Corn, soy crops grow slightly worse
The U.S. Department of Agriculture says the condition of country's corn and soybean crops hasn't gotten much worse in the past week but large portions remain in poor shape amid widespread drought.Here's the CPR (14 page PDF)
The USDA's weekly Crop Progress report said Monday that half of the nation's corn is in poor condition. A week earlier 48 percent was in poor shape....MORE
Here are the state level conditions.