Corn Futures Are Getting Smoked Today, Thanks to Great Weather

Your BBQ activities should be getting a little less cost intensive. The price of corn is getting its husks slapped off today, thanks to better than expected weather (rolls eyes). As such, ETFs like CORN, WEAT and BAL have become denizens of misery. The last two aren’t corn related (wheat, cotton). However, good weather affects all crops equally. We’re gonna have a great harvest laddies. Withhold the human sacrifices upon the temple of goodness until we need them.

“The weather patterns are taking out some of the heat, and we’re also adding a little bit of moisture” in the U.S., Ryan Kelbrants, a market analyst at CHS Hedging LLC in Inver Grove Heights, Minnesota, said in a telephone interview. “Our crop scouts are reporting excellent conditions.”

The potash industry (POT, MOS, CF) likely loathes good weather, as demand for their nitrogen laden products wane with the sunshine. But if we look down the road and think about who wins from cheaper corn inputs, stocks like BWLD, WING, MGPI, PEIX and a slew of restaurant and ethanol plays might work.