Midwest flooding affecting food prices here

All of the flooding in the Midwest has washed-out corn and soybean crops and sent grain prices soaring.

It's also having a huge impact on local farmers.

Corn prices rose 11 percent last week alone, due to the floods, and that may translate to higher grocery bills.

Floods washed away more than 10 percent of the corn crop in Iowa, sending prices sky high.

Soybeans were hit even harder, with 20 percent of the crop under water.

Here in the Tri-state, farming experts say it's a big problem because corn is a staple in so much U.S. food production.

"Everything from soft drinks to hand soaps to preservative in our salad dressings, all those things have corn fructose and that will be a food product will be paying for as consumers in the end," said Daniel Allen with the Kenton County Cooperative Extension Service.

For farmer Jerry Brown of Boone County, less corn will hurt him in a different way.

"Corn's at a record level right now and that's really difficult for farmers like myself that are raising beef cattle who have to purchase grain," said Brown.

Farming officials say food prices, including meat and milk will also be affected buy the huge corn loss.

But there is some good news to hopefully offset some of the flood of need to come.

"In this particular area, our corn crop is in pretty good shape. They will be able to get it out on a timely basis so it looks good," said Brown.

But it could also mean even higher prices at the pump because of limited corn-based ethanol.

FOX19.com: Dan Wells