Why Corn Is Suddenly The Hottest Commodity In The World

In case you don’t watch such things, the price of corn has been soaring of late. It’s the hottest commodity around.

Here’s a chart:

chart

What’s behind the gigantic move?

Basically, weather and the fact that corn plantings for the year are WAY slower than estimated, and way behind historical pace.

As this chart from Morgan Stanley shows, the amount of available stocks to use has hit a record low.

chart

And here you can see how behind corn planting is this year.

corn

Photo: Morgan Stanley

It all adds up to a commodity un-crash.

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