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southern mn | I'm having trouble with your statement that the USDA threw a bearish curveball in Jan but it appeared to be the right call. If they had let the market run------. I thought USDA reports were supposed to be objective or based on fact. You seem to imply that they use reports to influence price direction and policy dictation. My feeling is if they overreported stocks in Jan they did a disservice to everyone. Had price gone up then it would have curtailed usage but instead they encouraged usage. Now when the chickens come home to roost(poor yields, less carryover) we are faced with the prospect of shutting off demand immediately by running the markets up to the stratosphere.
On the yield subject, I live in southern MN and what I'm hearing is those 200+ bushel yields are coming in at 160-170. We were not immune to the warm nights in July and August plus water damage early may have done a slam dunk on yields. I personally haven't started yet and had four inches of rain last week so it will be a while. | |
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Grain stocks article..
