New Delhi, Sept. 15 -- The phrase 'confess the corn' is an American adage of 19th century vintage. It means admitting a mistake or, at the least, acknowledging an error. The exact origin of the phrase is unclear, though some sources point to a debate in the US Congress around corn that was either exported or fed to pigs. Here is an example from a New York daily (Spirit of the Times, 1942): "Your honor, I confess the corn. I was royally drunk."

India's farm commodity market is heading to its own 'confess the corn' moment. True to the original phrase, corn or maize is a protagonist to watch out for. So are a host of fellow crops: sugar, rice and soy. In a way, this can turn into a potboiler with some bad actors, like a venerable El Niñ...