The drought has been awful for farmers, but it could reap a bumper crop of good news for the seed business. With much of this year's corn harvest expected to be a disaster, analysts expect farmers to double down on seed purchases next year to get back on their feet.

"Tight seed supply is set to drive up pricing," wrote Michael Cox of PiperJaffray.

Of particular interest are a new batch of seeds bred specifically to withstand drought. The only one commercially available on a wide scale is Optimum AQUAmax by Pioneer, owned by DuPont . These seeds are hybrids using native corn traits, promising 3.4 percent better yields than other hybrids in normal years, and 7 percent better yields in drought. (Related: Obama Announces Measures to Soothe Drought Pain )

"We've sold out," said Pioneer's Todd Frazier, Central Business Unit Director, "We would've liked to have more."

MON News & Analysis

 UPDATE 1-Monsanto tests planting platform, eyes new microbial business - 15 May 2013 EDT

 Monsanto tests planting platform, eyes new microbial business - 15 May 2013 EDT

 Myriad Genetics shares rise to three-year highs - 14 May 2013 EDT

 UPDATE 1-U.S. State Dept. promotes Monsanto's GMO crops overseas -report - 14 May 2013 EDT

 US STOCKS-Wall St rises on speculation growth to sustain momentum - 14 May 2013 EDT

 More MON News