Totally agree with the two previous posts. Diminished production and availability will affect supply and scarcity dynamics, which could have a serious impact on prices. Higher corn costs will be peanuts compared to the impact of having less bottles to sell. If production goes down, they will want the same total profit from the lower number of bottles, so they will want to sell the same whiskeys for more money. As long as demand remains high - and, for the foreseeable future, it will - they can and will do this to compensate for lower production.
Now, is the drought bad enough that it really will systemically impact production / availability for the bigger boys (even Four Roses, Heaven Hill, or BT, not to mention Beam?) That's hard for me to believe, but who knows / we'll see.