Corn Prices Climbing Clear Up to the Sky

Corn and soybean prices have skyrocketed to near-record highs, the Wall Street Journal reported Thursday, pointing to even higher food price inflation.

The price of soybeans shot up 27 percent to $17 a bushel, the highest amount since a 2012 drought, while the price of corn rose 37 percent to $8.15. That figure is just 24 cents less than the all-time high.

Both prices are likely to break the records in the coming weeks. Vegetable oil, oat, and wheat prices this year have already surpassed their previous all-time highs.- READ MORE

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