Corn Crop Deterioration
The fundamentals f the corn market continue to point towards higher and higher prices. I understand that many people had a hard time forcing themselves to buy new crop corn $6 a bushel.
Unfortunately, $7 is here and $7.50 is not far off. The corn market is experiencing a “perfet storm.”
The short list of contributing factors are:
1) Tight ending stocks leave us very dependent on this year’s crop.
2) Increasing global (Asian) demand for red meat funnels more corn to feed.
3) Declining Dollar increases global demand for our exports.
4) The late start to this year’s crop will have a material …