US corn extends rally, hits highest since 2008 food crisis

SINGAPORE: US corn futures rose for a third day on Monday to their highest since the 2008 food crisis on persistent supply concerns.

The worries have largely overshadowed a forecast from the US Department of Agriculture last week that US farmers will plant the second-largest corn acreage since 1944.

Chicago Board of Trade corn for May delivery rose as high as $7.40-3/4 a bushel shortly after Asian trading hours began. By 2315 GMT, the contract was up 0.5 percent at $7.39-1/2.