The price of corn surged to $5.2425 per bushel in global markets, hitting the highest level in about three years amid the El Nino weather phenomenon, dry conditions and rising geopolitical risks, including the Russia-Ukraine war.
Price movements in grains came to the fore due to El Nino, with sharp hikes in corn prices.
Corn previously reached $5.2450 on July 31, 2023.
Corn rose more than 11% compared with the end of July and increased more than 17% compared with the end of December 2025.
The bushel price of corn later stabilized at around $5.18.
