Corn prices put on a dazzling display this week, exploding to three-month highs on the heels of a USDA report.
On Tuesday, the U.S. Department of Agriculture updated its estimates of this years planted acreage and shocked markets with a drastic cut of 5 million corn acres.
This news created fireworks across the grain markets, with December corn futures topping $3.60 per bushel. Wheat and soybeans went along for the ride, with Chicago wheat nearing $5.00 and November soybeans topping $9.00.