Agricultural economists say the El Nino effect could boost corn production in North America and other major corn belts this year. But the economists also say prices may become a problem.

The former president of the US Grains Council, Ronald Gray, grows 1,400 acres of corn in southern Illinois. And May is Gray's sowing season. Gray says he's not concerned about output at all.

"Spring has come to America's corn belt earlier than in previous years thanks to El Nino. And the weather is warmer and more humid than usual. That's better for the corn. Gray hopes he and all of the other corn farmers can harvest their crops before the La Nina effect arrives. That system brings droughts," Gray said.

"The U.S. Agriculture Department forecasts that American corn output will surpass 14.1 billion bushels, or about 360 million tons. That would be the most in 10 years. Still, Gray and some analysts say the farmers won't see an increase in income despite their increased harvests."

"Corn prices have shrivelled more than 60 percent in the United States since 2012. Analysts say that if the prices keep dropping, most corn farmers won't break event this year. They also suggest that investors looking at commodities be wise about their decisions," Gray said.