You listened to mild-mannered god And put your faith in deceitful words Your powertrip was paid by blood In kindness' name you spilled our blood
Shorting supply chain congestion & towards a temporary trough in price increases.
Inflation is a cancer that JPowell is trying to treat as a common cold by feeding us chicken soup with 2.00% rates. Cancers always require harsh chemotherapy - substantially positive real interest rates. If Arthur F. Powell keeps chasing inflation's momentum metastasization and never steps in front of it, his forcible replacement will not be kind to corn.
Either way: Inflation falls, corn falls - I see this as the most likely, especially short term since inflation hopefully won't hyperinflate yet - only trough higher where I'll cover it. Other, Inflation increases, Powell, or other, gets serious about inflation and makes corn fall. Other, time heals all wounds and corn falls. Long-term, corn is a short to me.