Corn is the most actively traded commodity crop in the world and the economic backbone of the rural US. It also influences the movements of other crops, especially soybeans, another staple of US farming.
After peaking in the spring of 2022, the price of a bushel of corn has been cut in half, leaving many US farmers out to dry.
Unexpected Harvest
This time last year corn futures were trading well above $6.50. Supply was low as weather patterns wreaked havoc on global crops and geopolitics - namely the invasion of Ukraine - kept production limited.
Many US farmers adopted a “store and ignore” approach, believing these trends to only continue and that their crops would appreciate.
Then the US saw ...Full story available on Benzinga.com
Benzinga