If the drought continues, corn produce could be too low to meet food and ethanol demands.
Indiana farmland values jumped by nearly 23-percent from 2010 to 2011.
Corn is taking a hit early this summer as temperatures have risen to the mid-90s on some days.
The demand for corn has risen and so have the prices farmers can get for the crop.
It is costing Hoosier farmers more to get crops in the ground.
Farmers say they need a late frost to give their crops time to mature. They planted crops late this year because of the rainy spring and hot summer.