w1891 - 4/10/2024 06:09
DP is most definitely not the driver of weak basis. There is too much grain for the demand levels we have. There will not be a day when basis takes off after the DP gets priced. The opposite will occur later this summer. Basic will crater after the crop gets planted and grain gets sold to make room for the new crop.
Seriously?
That may be the case in some areas.. but not here.. our coops 15 or so locations.. is probably the lowest stocks.. ever.. at least in a long time. They constructed two new bins.. last year.. still haven’t put a bushel in them yet.. The ethanol plant picked up its last pile a few weeks ago.. they had as much outside as in not too long ago.. the elevators maybe have 30% vs.. an average.. if you count ground piles of maybe 70% on average.
Theres another 80 myn gallon ethanol plant firing up.. and maybe the feedlots are not stuffed full.. but still chewing through a lot.
Our freeze damage is starting to show.. 10 to 25% which we’ve proven that we can recover with tillers.. if we have the moisture.. but.. its too dry here to plant.
Your comments are comical.. here. but I suppose some areas have excess grain. It feels like NASS is overestimating stocks to me.
anyway.. keep the shuttles coming.
Edited by JonSCKs 4/10/2024 09:49
| 
USDA & CONAB in 2 days - market audio comments
