Kernel of truth for corn

Rain and cold in the Midwest, coupled with falling prices, could put a damper on the planting record fueled by ethanol demand.

NEW YORK (CNNMoney.com) — The corn market figures to be as unpredictable as, well, the weather over the next month or so.

Price volatility in the past several days, coupled with unpredictable sways in rainfall and temperatures, could yet play havoc with corn trading.

So despite a U.S. Department of Agriculture report Friday that showed corn planting will reach highs not seen since World War II, analysts say the next several weeks could see a subtle shift by some farmers away from corn and back into soybeans now that corn prices have fallen from historic levels.

The surging ethanol industry has pushed the swelling demand for the fuel’s main ingredient, corn, making it the most-watched commodity on the market.

CNN/Money