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| 2013 13.9bb corn; 2014 14.2bb, 2015 13.6 bb, 2016 15bb. In 2015 there were 7 million less harvested acres than in 2013, "close enough" to 4 consecutive years of record production. BTW that 158bpa in '13 was pretty impressive considering the large acreage number.
None questioning demand? USDA had understated soybean demand something like 7 of last 10 years (read it a while back), so NO, no reason to think USDA is overstating demand when there is a 70% chance of the opposite. The years demand was overstated likely came in years where prices were very high, not when we are at 10 year lows. The old saying is still true: low prices cure low prices, just like high prices cured high prices.
Yes we all become better farmers and technology improves and yields/records will continue to rise, but everyone shouldn't wear their arm out patting themselves on the back because mother nature still has the final say. Ask some of the guys in nebraska, or PA. With high demand is doesn't take a 2012 type disaster for significantly higher prices, just a below trend year. Or maybe even trendline year...
Edited by Deere6 10/18/2016 21:19
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4 years of record production Tara
