Corn Jumps to Record as Floods in Midwest Threaten U.S. Crops. (Bloomberg)

Corn soared to a record in Chicago, extending its rally to a ninth straight session, as floods in the Midwest threatened production in the U.S., the world’s largest producer and exporter. Soybeans rose to a three-month high.

“The U.S. Midwest, including the flood-ravaged mid- Mississippi Valley, will be pounded by another round of severe weather through tonight, private forecaster Accuweather.com said on its Web site yesterday. “Heavy downpours caused by the thunderstorms threaten to aggravate existing flooding or cause new flash flooding problems.”