As American farmers suffer through the U.S.’s worst drought in 50 years, large portions of the nation’s corn and soybean crop are faltering, prompting prices to soar.
After the price of corn hit an all-time high Tuesday, “Mad Money” host Jim Cramer wondered just how high both corn and soybean prices could go. After all, he noted both corn and soybean prices affect everything from fuel to feed to food.
“If these moves continue, they could be in a position to annihilate earnings for a whole host of multinational companies, especially the food and beverage names,” Cramer said.
To get a sense of where corn and soybean prices might be headed, Cramer went “Off the Charts” with the help of Mark Sebastian, a highly regarded technician on Wall Street. Check out the video to see his full report.
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