CHICAGO, July 9 (Reuters) - Last year's U.S. drought, the worst since the Dust Bowl, is delivering its final sting to major grains buyers like Archer Daniels Midland, Bunge Ltd and Cargill Inc, who are paying record-high premiums for dwindling supplies of last year's crops. Premiums at the moment are as high as $1.75 a bushel above benchmark futures prices on the Chicago Board of Trade, which have been depressed by signs of a record harvest this coming autumn. The most active agriculture contract, December corn , hit a two-year low last week near $4.90 a bushel. The residual effect of last year's drought has triggered an unprecedented bidding war for immediate supplies. Ethanol plants, soy...
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