Crossword Genius

State where I invested in cereal crop, wasting capital (6)

Ross

I believe the answer is:

regina

I'm a little stuck... Click here to teach me more about this clue!

'capital' is the definition.
(Regina is an example)

'state where i invested in cereal crop wasting' is the wordplay.
I cannot quite understand how this works, but
'i' could be 'a' and 'a' is present in the answer.
'in' is found in the answer.
The remaining letters 'reg' is a valid word which might be clued in a way I don't see.
This explanation may well be incorrect...

Can you help me to learn more?

(Other definitions for regina that I've seen before include "Something inserted" , "Queen in legal issues" , "Title of reigning Queen" , "our head of state" , "in Canada" .)

I've seen this clue in The Guardian.
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