Follow @CornDisease (from corn and soybean mag) for reports/pics from farmers who are experiencing problems with their crop. Acreage planted is at an all time high, but the weather has been wreaking havoc on the crops this year. Demand is important too but I have yet to find any concrete info.
https://www.elitetrader.com/et/thre...ity-of-the-world-economy-in-one-chart.311511/ Oddtrader posted this chart in the thread linked at the top of the page. The "demand" side of the equation looks bleak. I need to do some research on Southern rust and Northern corn leaf blight and see how devastating that may or may not be. That is the only way I see prices going up and staying up is if the crop comes in short.
The real story with corn was a few years ago. When the price rocketed farmers thought its a safe bet to plant more corn. A lot of farmers did it and that created too much corn and the price went down since then. They all thought they hit the jackpot and you know how it turned out.
Ferez is right I was looking for a reason to buy corn, but acreage planted is almost 91 million. Prices could still go much lower.