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ec. nebr. | It seems the carryout numbers don’t matter anymore! Corn has been in a downward spiral since last September. Exports suck, yet we have the 2nd. lowest stocks carry over in the last 10 yrs. We are 1 short crop away from a disaster somewhere in the world. Soybeans in a similar situation, only record crop in Brazil is propping up prices for now. Wheat on the other hand is the blood child. Wheat ending stocks in the USA are the lowest in 15 yrs. World stocks very slightly higher. Yet in the central plains we are still in a severe drought. Wheat fields are looking poorly. World wheat stocks are lowest in 14 yrs. None of this makes sense from a marketing stand point! Is the recession and higher interest rates really controlling prices? Russia cannot be selling that much wheat, (sanctions)- and with Ukraine war their production and exports have to be less than ever in history! The new Wasde will not address this in this report. May have to wait till next month. All in all, the numbers do not add up to what the market prices are today in all of the grains. This is just like kicking the can down the road hoping for it to miraculously change some dynamics. I doubt the new numbers on Edit/ Wednesday-will matter.
Edited by flyboytoo 3/7/2023 07:47
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