July 31, 2012
Updated Aug 1, 2012 at 7:16 AM EDT
UNDATED (Indiana's NewsCenter) -- Corn prices surged to a new record high Tuesday, as the worst drought in more than 50 years continues to plague more than half the country.
A bushel of corn was going for $8.20 on the Chicago Board of Trade.
Almost 90% of the United States' corn crops are in drought ravaged areas, according to the U.S. Department of agriculture, and nearly 40% are situated in the hardest hit spots.
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