CORN Ripe for the Picking
As most stock indices were bringing a welcome end to their losing streaks on Thursday, at least one risky asset class was heading sharply lower. Corn futures sank after the U.S. Agriculture Department announced it's expecting a record U.S. corn crop this fall. That sent prices sharply lower as investors anticipated an end to a prolonged period of incredibly tight supplies.
That dip represents a nice buying opportunity for an asset that I believe has tremendous upside potential, especially in the current environment. The biggest reason to be bullish on corn futures comes from -- no surprise here -- China. Prices spiked in recent weeks as rumors of a massive China purchase swirled -- rumors that turned out to be false. But, while China hasn't made any big single purchases, it continues to tap into U.S. markets to help replenish its stocks. The country is increasing its purchases of U.S. corn, and it figures to continue doing so for the foreseeable future....344 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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