Corn prices hit almost decade highs Tuesday on the back of a drought in the US and ongoing supply disruption following Russia's invasion of Ukraine.
On the Chicago Board of Trade, the most active corn contract rose to US$8.13-1/2 a bushel, its highest since September 2012.
A bushel of corn traded for approximately US$6 at the start of the year.
The price of corn is just one of several agriculture commodities that have surged in recent weeks due to the war in Ukraine.
Ukraine exports wheat and other items, such as sunflower oil, while Russia produces wheat and many of the chemicals used in fertiliser.
Higher input costs and more demand for corn as a substitute food item are leading futures traders to bet on higher prices, reports CNBC.
Before the war, agricultural commodities also experienced some upward pressure from supply chain disruptions and high transportation costs.
Prices have also risen due to the drought in the western US.
Earlier this month, the US Department of Agriculture (USDA) said Ukrainian corn exports have been "sharply reduced" for the second month in a row.
Since the invasion began, its forecasts for Ukrainian corn exports have slipped 30%.
In addition, the USDA predicts the amount of land in the US used for growing corn will drop 4% this year to 89.5mln acres.