Corn's move today and broader inflation picture

Watching $CORN today, up to 17.93 and still climbing within the day's range of 17.525–17.96. The +1.59% move isn't earth-shattering, but it's part of a continued upward creep in commodities that I think is getting overlooked by some of the more optimistic inflation narratives. The 'transitory' debate has largely faded, but now it feels like the market is fixated on disinflation in core services, potentially downplaying the persistent, sticky pressure from things like food. This isn't just about Ukraine anymore either; we're seeing global weather patterns having an impact.

My take is that persistent commodity strength, even if it's not a headline shock every day, makes the Fed's job harder. It puts a floor under inflation expectations that can be tough to break. It means rate cuts might be further off than some are pricing in, which in turn keeps pressure on higher-multiple growth stocks. I'm keeping a closer eye on sectors that can pass on these input costs, or those less exposed to discretionary consumer spending if real incomes continue to feel the pinch.