Kicking yourself for missing the boat on silver, but still hungry for something to sink your teeth into? Well, at least one adviser has entered the hallowed halls of Breakout to make the case for corn.
That's right. The Reformed Broker Josh Brown says if the planets align correctly and a few other variables kick in, then the amazing beast that is corn could deliver another 60% upside. Now you're all ears, aren't you?
He says to forget the fact that corn has already doubled in the past year and is currently trading at record highs north of $7.60 per bushel. Instead, he suggests you look at a weather map showing a soggy middle America that's home to a lean inventories and a small, wet and delayed crop.
Then spin the globe around, find China, and jot down the words "net importer" -- and therein lies your formula for Brown's prediction that corn could rally to $12.
To be sure, the futures pits of Chicago are not for everyone, but Brown offers several more genteel ways to play the same agri-craze theme, including the Teucrium Corn Fund (CORN), the Market Vectors Agribusiness ETF (MOO) or if individual stocks are more to your liking, then fertilizer giant Agrium (AGU).
And one more thing. Brown also says to be patient and keep an eye on the oversold dollar, which he feels is poised for a pop from three-year lows. That trend reversal, while temporary he believes, will slam commodities and give fleet-footed and courageous corn stalkers a nice buying opportunity.
What are your thoughts on corn, commodities or the markets in general? Comment below or send an email to firstname.lastname@example.org.
Disclosure: Brown owns shares in AGU.