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NEW YORK—Corn futures surged near a record high Tuesday after crude oil spiked above $122 a barrel and forecasts for more rain in the U.S. corn belt threatened to put farmers further behind in their planting schedule.

Oil’s rally helped lift other commodities, with gold, silver, wheat and rice futures all trading higher.

As crude oil climbs further into record territory, gas and alternative energy markets have also risen, boosting profits for U.S. ethanol makers who use corn as their basic feedstock.

Corn for July delivery added 12.25 cents to settle at $6.0...