Drought in Brazil stressing corn crop that is in critical pollination stage. May 12, 2021 The price of corn in the U.S. has been increasing this year and is now approaching record highs. As of Monday, according to The Wall Street Journal, corn prices are up 50%, with the cost of a bushel at $7.73, and prices are closing in on highs not seen since 2012 when drought decimated crops across the Midwest and sent prices soaring to $8.31 a bushel, the Journal reported. Like in 2012, weather is a factor in the rising corn prices and, once again, drought is the primary trigger. However, it's affecting farmers in Brazil rather than in the U.S.