There's a good article on agweb.com about it today.
It sounds like the seed producers are predicting a 5 to 10% price increase. Seed companies have done a lot to distribute their risk by growing their seed crops in multiple states/regions and have most of those acres under irrigation, BUT it's a huge drought and there will be losses to drive up price.
I found it interesting that the one seed company representative mentioned that they have acres in South America (Argentina?) that they have contracted for contingency in case of a North American drought and it sounds like they're going to go full-tilt on that.
I don't think a 50% increase is likely and an actual shortage is nearly impossible, but then again the price of corn was predicted to be < $5 a few months ago and now it's predicted to be $10. It's hard to say what's going to happen, but only one thing's for sure, it's going to be a bad year for my cattle operation.
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