Very likely to set record high yields in corn and beans this year. Grew up on a farm and brother farms ~2,000 acres of corn/beans in NE so follow it pretty closely. BIG crop coming. Price is already reflecting that so not saying it won't go higher from here though. Brazil adds millions of acres of corn/beans every year and will for the foreseeable future unless Lula follows through with his promise to reduce deforestation. Karen does a good job of reporting the numbers. https://twitter.com/kannbwx?s=21
corns are ok but brazil makes tons and sell to china. in general i don't touch cme agrcultural and metal instruments because i don't have time to read global outputs.
Possible but I don't think it gets that low. I'll likely start scaling into short puts if Dec drops to ~350. 3 area has been good support since 2008. World stocks to use hasn't changed much the past few years.
-ethanol production (40%) -cattle/hog/chicken production -food production (corn meal/corn syrup/etc…) -exports (Japan, Mexico, etc…)
I saw a lot of brown, really anemic looking corn fields on a venture to Amish country a few weeks back. Large fields. Granted, that's a small sample on my part, but it has proven right in the past.