Later today USDA is expected to announce that corn planting was about 20 percent completed as of last Sunday, 15 April. If so, that would be a record-early pace. It would suggest that corn planting will be more than 50 percent complete on 1 May, which would also be a record. If this proves to be the case, analysts will become euphoric about the potential for a record-high national average corn yield of say, 165 BPA or even higher. After all, early planted corn crops tend to result in above-average yields.If a record-big corn yield were combined with a historically large planted area, the result would be a humongous 2012 U.S. corn production that would quickly swamp any old crop shortages. Moreover, early planting likely will result in an...