Corn and soybeans fell nearly 3 percent yesterday, according to Reuters, “as risk premiums built into the market in case of crop failure peeled away as favorable weather in the grain belt boosted production prospects.”

Soybeans have been extremely volatile to say the least, says commodities expert Kevin Kerr in Whiskey and Gunpowder.

The problem, says Kevin, is that all the rosy crop reports won’t come to fruition once harvest time rolls around. He says they’re just a lot of wishful thinking…

The bull market in oil comes down to just two simple numbers: The world can’t produce more than 85 million barrels of oil per day. The world wants 87 million barrels of oil per day.