America Latina Logistics, SA (ALL3), of Southern Brazil, the largest rail operator in South America is showing the third best returns worldwide among its global peers as Brazilian corn shipments soar in response to the effects on the U.S. corn crop by this year’s drought. In the last two months, ALL has shown 23% returns giving ALL a price-to-earnings ratio of 29.6, making it the most expensive rail stock worldwide. CONAB, Brazil’s crop-forecasting agency predicts Brazil will see a record 69.5 million metric tons of corn this season as Brazil increases its corn exports by 67%; the value of which nearly quintupled in July 2012 to $423 million from a year earlier.