Corn is in trouble because of the wet spring that has drenched the Midwest. Yesterday, the USDA said in a report that American corn output will be down significantly from last year’s estimate.
This is the fifth installment of a new Money Morning series highlighting investment opportunities in the global bull market in commodities. Soaring prices of grains, dairy and meat have been grabbing global headlines. But other commodities have been on the rise as well.
The price of corn has already climbed 25% since January and established 13 new record highs. And food prices across the board are climbing to historic highs as a result.