Monday, December 8, 2008

Corn Heads For Zero

That's their headline. Talk about your overshoot!
From Hard Assets Investor:

Corn fell below $3 on Friday, closing at $2.935, the lowest price in two years. That's a slide of 61% since hitting this year's high of $7.625 this summer.


Corn performance

Unsurprisingly, weak demand is the primary reason cited for the decline in corn prices, and analysts aren't optimistic that demand is going to turn around any time soon. Joel Karlin, an analyst with Western Milling, said the following on the Cattle Network:...MORE