An article making the rounds on Sunday suggested that the booming farm economy in Iowa may have an influence on the White House race this fall. Read the article here.

Iowa is a crucial battleground state for President Barack Obama and Republican challenger Mitt Romney.

The better the economy, the better it is for the incumbent. Score one for Obama.

However, what happens if the drought that is developing in much of the Midwest takes a toll on Iowa’s crops and causes economic difficulty? Click here to see the latest drought monitor.

So far, the crop in Iowa hasn't been affected as much as it has in neighboring states like Illinois. According to the U.S. Department of Agriculture’s “Crop Progress” report on Monday, 52 percent of the corn planted in Iowa is in “good” condition and 16 percent is in “excellent” condition. It hasn't changed much at all in the past two weeks, going back to the June 11 report.  

It’s the same story with soybeans in Iowa ― they are holding their own so far.

A year ago at this same time, 56 percent of the corn in Iowa was reported in “good” condition and 24 percent was “excellent.”

In another crucial battleground state ― Ohio ― the corn condition does seem to be regressing. In the June 11 report, 51 percent of Ohio’s corn was in “good” condition and 13 percent was in “excellent” condition. The condition has deteriorated somewhat in the past two weeks, with just 42 percent rated "good” and 9 percent "excellent" in the latest report on Monday.

A couple of other key battleground states ― Florida and Colorado ― are experiencing weather problems that could be damaging to their economies. Tropical Storm Debby is inundating the state of Florida with rain. Wildfires in Colorado ― brought on by dry conditions ― are responsible for closing some popular tourist attractions in the Colorado Springs area.