From king corn to popcorn – hot and dry weather

96 million acre of corn was planted this season in the US and the yield was supposed to follow trend and be up above 160 bushels per acre. This was going to be a big crop and the prices were reflecting a decline in price by the end of the year. Instead we are seeing corn rise by over 30 percent in less than a month. The yield numbers may be way below trend. The acreage number is going to fall and crops are plowed under. This will not be a banner year for king corn. This may be one of the worst crops since 1988. 

Weather shocks are real.