CORN jumped to a record after rain in the United Sates Midwest flooded fields, delaying planting and threatening to reduce crops. Soybeans, wheat and rice also gained as soaring oil costs and the dollar's drop boosted demand for an inflation hedge.

Thunderstorms plagued areas from the central Plains to the Midwest yesterday, bringing more than 10 centimeters of rain to parts of Iowa. Further storms are forecast for the next five days, Bloomberg News said.

Corn and soybeans planted in wet, cool soils develop shallow roots, increasing the threat of damage from hot, dry weather in July and August.

Corn prices have advanced 47 percent this year, gaining for a fourth straight year, as demand surged for feed and biofuels, reducing global inventories to a 24-year low. Wheat, soybeans and palm oil also reached records this year, and rice has risen 9.4 percent in the past three days, stoking concern that food shortages may worsen and spur inflation.

Corn for July delivery rose as much as 22.25 cents, or 3.4 percent, to US$6.73 in after-hours trading on the Chicago Board of Trade. The contract gained 8.6 percent last week, the biggest weekly gain in 10 weeks. New-crop December corn was trading as high as US$6.985 a bushel.

Soybeans for July delivery added as much as 32 cents, or 2.2 percent, to US$14.895 a bushel, and last traded at US$14.84. The price rose 6.9 percent last week, the most since June 2005. Soybeans, which touched a record US$15.865 on March 3, are up 22 percent this year.

Rice for July delivery added 39.5 cents, or 2 percent, to US$20.355 per 100 pounds.

The crop is up 88 percent from a year earlier.