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What’s Up/Down With Corn?
Written by Brad Zigler   
July 21, 2008 4:26 PM EST


September corn's in a dramatic retreat this morning, off another quarter to break below the $6-a-bushel level. That's nearly a $1 tumble from its pre-holiday peak.

 

CBOT Corn (September 2008)

CBOT Corn (September 2008)

 

The price swoon looked like it had its genesis with the "discovery" of corn in the Northern Tier ("Hey! We Found Corn!"). Now, weather's a factor, becoming ideal for bolstering what crops remain after last month's devastating floods. Rains are expected - and welcomed - in Minnesota, where it's not been nearly as wet as the Illinois/Iowa portion of the Corn Belt, while steering clear of previously inundated areas.

If corn's price trajectory follows that laid down by wheat earlier in the year, however, the bottom of this move may not been seen ‘til $4.50 comes in sight.

 



 

More on this topic (What's this?)
Tennessee Plant to Turn Corn Cobs into Fuel (Green Chip Stocks, 2/1/10)
Monsanto GM Corn Linked to Organ Damage in Animals (naked capitalism, 1/13/10)
Green Chip Scholarship Entry (Green Chip Stocks, 1/20/10)
Weather Trends 2009 US corn yield forecast verification (Weather and Commodity Trading, 1/14/10)
Read more on Corn at Wikinvest
 
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