Strong planting, good weather conditions in the Midwest, and no major crop problems has pushed corn prices down to four year lows. Farm income is going down and land prices which have been pushed to extremes will start to soften. The foundation for this decline has been building since last year, but you would not have know it from the price action this last winter. Corn is down over a dollar since spring and half the price from two years ago. Some analysts are talking about a billion metric ton harvest around the world.
It is a hard argument for holding commodities at this time given agricultural moves.
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