Corn Is Getting Creamed

Corn futures continued their massive sell off today as Goldman Sachs cut its price forecast a full dollar, to $6.50 per bushel from $7.50, Reuters reported.

They were down as much as 8 per cent Monday to $6.40, hitting lows not seen since last June.  

Here’s the chart:

Investing.comA bearish USDA report Thursday saying corn stocks had come in higher than expected kicked off the collapse.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.