Brazil farmers selling next year’s corn as prices spike from drought.

Brazilian farmers are committing corn from the 2019 crop before the 2018 harvest concludes, locking in sharp price rises as a drought reduced output in Argentina as well as in fields of Brazil. Corn futures at the Chicago Board of Trade have risen over 12 percent since the start of the year and are at an almost two-year high at $3.95-1/4 per bushel.