Dive Brief:
- As the harvest nears, this year's corn crop appears poised to be the largest in history.
- Corn futures prices are falling, and that's driving prices lower for other foods as well, particularly chicken.
- Analyst firms such as Informa and the International Grains Council have increased their crop forecasts in recent days. Now all eyes turn to the USDA, which will release its updated forecast on Friday.
Dive Insight:
There seems little doubt that this year's corn crop will set a record (as will the soybean crop.) The only question is just how much of a record, We won't presume to guess. We'll just wait until Nov. 8 at 11 am like everyone else in the market. And wish, just like everyone else, that we had gone short in the commodities market.