The Wednesday HOT TAKE

Spots are filling quickly for 2027 AgVentures. Due to strong demand, we’re offering two opportunities to experience soybean harvest in Brazil and have added a new destination in 2027: Argentina.

For additional information or to reserve your spot, visit NoBullAg.com/AgVentures or reply to this message.

Six weeks ago, I did something very out of character.

I told you I was bullish.

I gave you ten reasons. I told you the move was about more than yield, more than war and more than El Niño.

I also told you there were two possible outcomes: either I had it right…

or I was about to put the top in the market.

Whelp…

December corn was trading around $5.40 when I hit send. Today it closed near $4.80.

Door number two it is.

So this week I am doing the only thing that is actually No Bull: going back through all ten reasons, one at a time. What I said. What has changed. What I got wrong and what I got right.

Being wrong is part of this business. Pretending you weren’t is the part that can get expensive.

For Pro subscribers, all ten are below, with a verdict on each.

And for free subscribers — still love ya, but the buck still stops here.