by MN Gordon Economic Prism
How things change. A year ago the Midwest and Mississippi Basin were suffering the worst drought since 1956. Corn stalks were rapidly going brown and corn prices were rapidly going up. The next food crisis was imminent.
We even wrote an article on how to capitalize on it. What do we know?
Today the exact opposite is happening. Mother earth is yielding an abundance of corn and corn prices are sagging like a half empty flour sack. A complete reversal has occurred.
“The 2013 corn crop is expected to come in at a record 13.8 billion bushels, up 28 percent from last year,” explains Reuters. “If that happens, supplies will build to an eight-year high, making the famine-to-feast reversal the largest annual swing in more than half a century.”
The price action is obvious. Corn prices have fallen from $7 a bushel a year ago to about $4.80 today. What’s more, corn prices are expected to fall even more…
Blame It On the Rain
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. . . → Read More: Something Big is Coming