Corn prices to remain volatile through summerCorn prices to remain volatile through summer

Spring has arrived, and with it come the wild swings in corn prices that occur along with preplanting supply “guestimates.” In April’s “Grain Stocks” report, the Agriculture Department said that corn, wheat and soybean stocks were all larger than expected. U.S. corn inventories at 5.4 billion bushels are down 600 million bushels from a year ago but are well above pre-report expectations, which were in the 5-billion-bushel range. Separately, in its “Prospective Plantings” report, the USDA projected 2013-2014 corn acres at 97.3 million, potentially the largest acreage since 1936. Both reports were bearish for corn prices, which plummeted from pre-report highs of $7.35 per bushel to $6.29 April 5. But April 10, in its “World Agricultural Su...