Death comes to us all. Life's but a walking shadow | Below is the March 16 corn stks report by state with two extra columns added showing the 2014 & 2015 % On-farm calculated for the states showing complete data. There isn't much evidence of a really dramatic shift in % On-farm even for those ECB states with poor production, only a few percent decline.
I would like to suggest that perhaps the ethanol business can explain what you see. On aveage ethanol chews thru 100 million bushel per week and that can't help but affect the market. Previously when exports was a much greater percentage of the demand, grain merchants could hold back purchases until the producers came to them. Today producers can sell corn & schedule delivery at almost anytime. I suspect it has a tremendous leveling effect. Ethanol needs grain on schedule and producers can sell small amounts as needed.
Perhaps this even explains why Brazil, Argentina & Ukraine are the perferred export suppliers. The international grain merchants have more leverage over their markets than here.
For what it's worth.
PS: what is surprising is how Minn.'s On-farm stks are 4% lower than last year.
Edited by 1234 4/5/2016 08:24
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Grain in Farmer's Hands
