Corn prices plunge on worries about export demand

Matthew Bradbard submits: The indices trading higher should mean the dollar and Treasuries down and most commodities up. That is how we have positioned clients as you can read below. Oil is thru $76 trading near a one month high. The momentum is up but if you are not already long we would not suggest fresh entries at these levels.

World Market Pulse submits:Commodity traders and market experts are said to be keeping a keen eye on the prices of both rice and corn as experts feel that the rising corn prices could act as a catalyst for the rice industry with a possible increase in demand for rice as animal feed in the coming weeks.

Corn prices immediately collapsed last night as soon as trading opened, following a bearish USDA report Thursday saying stocks were higher than anticipated.   This morning, the freefall is continuing. May prices were down as much as 5.58 percent. Here's the chart:

ETF Database submits: Investors checking in on the Teucrium Corn Fund (CORN) yesterday may have been suspicious that another market malfunction was generating bizarre ticker readings. But Wednesday’s performance was no joke; the 8% surge came after commodity traders were shocked yesterday by a U.S. Department of Agriculture report that showed a surprisingly lower corn crop as well as sharply lower corn inventories.

By The Mays Report: By G.C. Mays

By The Mays Report: By GC Mays

Corn futures fell 1.7% amid renewed concerns about tepid export demand for the U.S. crop.

By Bill Luby: Since the launch of the Teucrium Commodity Trust Corn Fund ETF (CORN) in June 2010, investors who were unwilling to open up a futures account have been able to take long and short positions on corn via the CORN ETF, which holds a basket of corn futures.