- Contrarians looking for a bottom in the long slide in corn could do worse than hearing a bell ringing in the WSJ headline from this weekend: "U.S. Farmers are up to their ears in corn."
- "We're going to drown in corn this year," leads the article, quoting Decatur's Jeff Brown, a 5th-generation farmer.
- More? "We're going to see corn in piles all over the Midwest, and it's going to take forever to eat through it all," says commodity broker Jamey Kohake, who is advising clients to sell rallies and not hold any corn through the winter.
- September corn fell 1.7% today to $3.60 per bushel. Two years ago, corn was selling for more than $8.
- CORN -1.6%
- ETFs: JJG, GRU