Since June 15 the price of corn has risen 57% and reached a record high on Friday July 20 of $8.38 a bushel on the Chicago Board of Trade.
The rally was driven largely by the drought in the US midwest - the worst since the 1950s - and poor stockpiles of corn on the back of a hot summer last year. Soybeans hit an all-time high of $17.77 a bushel.
