I read on the internet that consuming cornflakes may led to cancer is that correct?

May increase risk: Many things in our diets may increase cancer risk and cornflakes seem to be among these; there are 2 possible mechanisms: cornflakes raise blood sugar which increases cancer risk, esp. lung cancer- see http://tinyurl.com/j37rkhg Cornflakes sold in the US have high levels of glyphosate (found in the herbicide Round-Up) which appears to increase cancer risk, so look for organic/non-GMO cornflakes.