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I’ve seen some shit on r/wallstreetbets suggesting corn going on a substantial rally.
If anyone is contemplating it, be cautious.
That storm that rolled through was ****ing for real. But the market hasn’t really moved. Weather markets in the grains are super volatile and over quick. There have been some up days but nothing really at all out of the ordinary, all the while that storm is in the news.
The other side is the governor of Iowa said 10M acres flattened. If we assume 50:50 corn:beans and 200bpa:60bpa that’s 1 billion bushels of corn and 300M bushels comes of beans. As a nation we grow 14.5 billion bushels of corn a year and 4.4 billion beans. So whatever order of magnitude the damage is on those acres, it moves the needle.
But with ethanol shitting the bed, the meat market ****ed up, and exports being down this year, it may not move it much. Idk, I’d have to do a ton more research than I’m willing to do.
All I know is weather markets move quick and this one is not.
Here’s your free advice. You get what you pay for.
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