I'm clueless on the the supply/demand of corn and how it affects prices.
I'm even more clueless on how the lack of rain factors into the prices of corn.
In general, I get the basic idea.... no rain, less supply, demand steady to slight decrease, prices climb, etc. Buying forward, selling forward. COT. etc. But there seems to me that there are other non-linear factors involved or new factors that come into play once supply goes down to a certain level. My guess is that these other factors become much more significant.
Is there anything I can read that goes into more the fundamentals of corn prices?
Thanks in advance if you have any guidance.