Ten percent of the U.S corn crop was instantly wiped out last week during what’s described as an inland hurricane.
The video here goes into more detail about correlating events.
To limit the food supply even further, driving prices higher under the guise of inflation, the ‘speck’ (time stamp 6:00) has invaded 100% of tested agriculture workers in California.
The corn ETF mentioned at Time Stamp, 4:16, in the linked video is shown below: CORN is the ticker symbol.
The ‘derecho’ breakout is clear. Currently, CORN price action has retraced slightly and is testing support levels.
In separate markets, biotech (IBB) has posted another sell, sell-short signal with this session’s new daily low (not financial advice).
Silver is reversing as expected.
Whether or not this is just the beginning of a long down move to form new lows (for SLV), is unknown. Of course, such a position or thought is, completely opposite the consensus view.
Charts by StockCharts