The White House reported about noon that Biden is being strongly encouraged to waive the ethanol mandate to reduce food prices.
This is the fourth of fifth time the past six months this topic has crashed the corn market.
The ethanol mandate will not be waived. Ethanol is cheaper than gasoline. People need cheaper gasoline now far more than they need cheaper meat and eggs 6 to 18 months from now.
Cover shorts, buy calls, buy futures; write puts.
Corn futures price will test the highs.