U.S. farmers are also expected to plant about 76.024 million acres of soybeans, which under normal conditions could mean a harvest of more than 3 billion bushels. Last year's crop came in at 2.959 billion bushels.
The United States is the world's largest exporter of corn and soybeans. Last year, the corn crop was valued at $47.4 billion and the soybean crop at $27.4 billion, government figures show.
What’s the trade?
I like commodities that are mostly flat or down for the year, explains Roger Corrado, and independent commodities trader. Look at coffee, sugar and cocoa , he says.
Also corn , soybeans and wheat are worth a look, too.
You can play any of those commodities with ETF’s, futures contracts or with options, he explains. If you're an individula investor, my preference would be options.
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Trader disclosure: On Apr 22th, 2009, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU), (BTU), (C), (GS), (INTC), (MSFT), (NUE); Seymour Owns (BAC), (EEM), (FXI), (TCK), (INTC), (FIC); Seymour Is Short (AAPL), (FCX), (POT); Finerman's Firm Owns (AXP), (RIG), (UNH), (TBT), (ELX); Finerman's Firm Owns (BAC) Preferred; Finerman's Firm Owns (C) Preferred; Finerman's Firm Owns(MSFT) & (MSFT) Put Spread; Finermans Firm Is Short (IJR), (MDY), (SPY), (IWM), (USO); Najarian Owns (PALM); Najarian Owns (BX) Call Spread; Najarian Owns (MCD) & (MCD) Calls; Najarian Owns (MS) & (MS) Calls; Najarian Owns (RHT) Call Spread; Najarian Owns (RIO) Calls; Najarian Owns (VAR) Call Spread; Najarian Owns (XHB) Cal Spread; Najarian Owns (XLB) Call Spread; Najarian Owns (ANR)
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