Saturday, May 30, 2009

The Debts of the Spenders: US Corn "Knee High by the Fourth of July" Disappoints

*Credit Gato.chan

Remember, planting delays are generally considered bullish for traders (b/c of supply concerns). And the weather has not been cooperating.

Satellite imagery courtesy of NOAA web site.

During this past week, U.S. corn planting increased nearly 15 percentage points from the previous week, according to USDA’s planting progress report. Yet, the planting is still more than 20 percentage points behind the five-year average.
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