USDA report confirmed a reduction in corn plantings of over 3 million acres for the planting year beginning this month. This is two million more than anticipated and will see a significant reduction in corn ending stocks at the conclusion of this year. Demand continues to grow at a phenomenal pace (supermarkets and now service stations with ethanol) and the least the market can now afford is for corn inventories to weaken. The bull is now firmly set. Next week will be a wild ride for the corn market in particular. It still remains my pick to be the number one commodity for 2006. Good luck!
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