Corn prices are now north of $8.10/bushel, a new record high.
This is above the previous record of $7.99 in July 2011.
A historic drought has caused corn crop yields to shrink and prices to explode higher.
Some form of corn or refined corn goes into countless types of goods. Eventually, this could hit producer and consumer prices.
Here’s a multi-year chart from FinViz.
SEE ALSO: 11 Wild Facts About Corn >