U.S. corn futures surged to a new all-time high on Monday in Sydney, Australia, spurred by worries over critically low stockpiles in the United States, the world's top exporter.
Chicago Board of Trade corn for May delivery jumped 1.8 percent to $7.81-3/4 a bushel by 2306 GMT, after hitting a record top of $7.83 earlier.
The U.S. Department of Agriculture on Friday stuck to its March forecast of U.S. corn supply to be at 675 million bushels at the end of the 2010/11 marketing year, but the market remains skeptical.