On the demand side, global corn consumption is expected to rise to a record 936.7 million tons, increasing for an 18th straight year, as a rising middle class in emerging markets bolsters demand for meat, which in turn increases usage of corn as cattle feed. In the U.S., domestic corn usage is expected to be 4.13 billion bushels in the first quarter.
Some contrarian bets are pointing to a support at the current corn price levels. From a short-term view, corn is in the middle of its best seasonal period of the year, and momentum could turn positive after sentiment nears bearish levels not seen since 2009, writes J.C. Parets, Founder & President of Eagle Bay Capital, for All Star Charts.
Teucrium Corn Fund
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