Concerns have risen over the possibility of another food crisis after a government report revealed the serious drought currently blanketing parts of the US has attacked crops across the Midwest, pushing corn prices to a record high.
On Friday prices were up 0.73% to 829.75¢ per bushel, having risen over 60% in the past seven weeks.
The report confirmed that the crop is likely to a hit a six year low with supply plunging 13%.
The US Department of Agriculture warned the drought, which has resulted in the poorest conditions since 1988, will limit this year's harvest to 10.779bn bushels, significantly down on the 12.358bn bushels harvested last year.
There was a food crisis in 2008 that sparked riots across a number of countries including Mexico and Egypt.
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