Prices Soar on South America Drought

``Corn and soybean futures prices have both rallied amid the high temperatures in the southern hemisphere, rising 18% and 9.9% this month, respectively, to their highest levels since the financial crisis undercut commodity prices in 2008. Corn is up 51% year to date, and soybeans are up 31%. Wheat is up 23% this month due in large part to excessive rain in Australia, though rains there recently eased, and Argentina's wheat crop, planted earlier in the year, appears strong. For the year, wheat is up 48%.''