Soil in the west is also diminishing. This can easily be remedied through things such as Zinc and other things like phosphate etc but don't want to get too scientific here.
What this means is that in the future we will likely transition to indoor/greenhouse farming.
Another aspect is China. If you follow my work, I have said the only reason China would come to make a trade deal/truce is if their credit problem worsens, and if their food issue worsens. China has been hit hard with the swine flu and the army virus and the government is subsidizing food prices, especially pork. This could be a more short term/intermediate term catalyst.
Onto the charts. A good confluence for Corn . We hit a major support/flip zone at around the 3.45 zone.
You can see the downtrend with its lower highs and lower lows. They are well defined. Remember, by definition once a lower high swing is broken and we stop making new lower lows, the downtrend is now nullified. We either range or begin an uptrend.
We can see the lower high swing at 3.60 was broken and also retested. Buyers are coming on here.
On the daily we are now awaiting our first HIGHER LOW swing in a possible new uptrend which we could have here. This would make a pattern and the confirmed higher low swing once we break above the neckline at the 3.70 zone.
Overall this is looking good. We could see a move up to the 4.00 level.