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SE IL | That’s a very short term view so I guess time will tell. If that’s true one would think individual states would fit that description. A farmdoc article actually shows the opposite thst IL trend yield curve has steepened. I could also argue that the technology developed during the last big up cycle in corn (09-13) is just now getting used widely. Everyone didn’t automatically buy all that stuff/put it into practice. Many watch to see how it works for others first/and or wait for used stuff. Tile couldn’t all be put in the same year and benefits can take some time to really be seen. I guess I will go with the 50 years of data that puts trend somewhere around 180 (was it actually 179 USDA generally starts slightly above it?). If one wants to see what cheap corn looks like put a 190 yield into the balance sheet and look at a close to 3bb c/o. Seems like a stretch but as mentioned above this has happened 4 times in the last 20 years.
Edit to add could maybe be 5 times and recently be 14, 15, 17.
Edited by Deere6 5/13/2023 06:52
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Lets see how accurate the May wasde has been
