Corn prices as low as $1.73
...... in N Dakota due to the negative basis and shipping. Say what you want about that but it does beg the question of how all this balances out in future economic behavior.
In general, things like poultry ramping up, and hogs will follow too. Marginal areas will shift planting away from corn. Maybe a big boost to canola plantings next year.
And ethanol? No doubt there'll be great margins if the price of ethanol doesn't drop percipitously. But if it does it will out compete oil and .......